Support & Resistance levels , and moving averages are just meaningless lines on the chart.

Discussion in 'Stocks' started by wxytrader, Sep 26, 2023.

  1. wxytrader

    wxytrader

    Well moving in five legs is pretty simplified... I deal mostly with corrections, double corrections or seven swings and retraces.
     
    #151     May 9, 2025
  2. You ppl are hopeless.
     
    #152     May 9, 2025
  3. themickey

    themickey

    I don't propose you use ma's, but just as crazy is for example a 100 day lookback, both have nothing to do with today's price action.
    A rising ma200 may indicate a rising trend but that was 100 days ago and a rolling 100 day lookback, if you plot it, will give the same results as a placebo.
     
    #153     May 10, 2025
  4. panzerman

    panzerman

    Of course lag is the major drawback of MA's. There are low/zero lag MA's such as the Hull MA (twicing, thricing) and Ehlers' ZEMA and AZEMA, but I'm not making a claim here that they will turn you into a profitable trader.
     
    #154     May 10, 2025
  5. This notion of yours that Prices are predetermined, that's EW right?
    Can you elaborate on that predetermined concept please.
     
    #155     May 10, 2025