I personally use the RSI and the Moving Averages to figure out the direction to trade in.
The RSI at most times gives you a good indication whether to go long or short particularly on the daily charts.
On seeing the replies in this post and the votes for each of the options listed, i guess each one adopts a style/methodology whichever is more comfortable/successful for him/her.
I am sure there are no 2 traders who would exactly use the same indicators, or if they did it would be with different parameters.
I personally use the RSI and the Moving Averages to figure out the direction to trade in.
The RSI at most times gives you a good indication whether to go long or short particularly on the daily charts.
On seeing the replies in this post and the votes for each of the options listed, i guess each one adopts a style/methodology whichever is more comfortable/successful for him/her.
I am sure there are no 2 traders who would exactly use the same indicators, or if they did it would be with different parameters.
I use other indicators like ichimoku kinko hyo system, heiken ashi candle stick along with kelter bands and cog/mbfx system, harmonic patterns, many patterns like trinagle, wedge, double/triple bottoms/top, head & shoulder etc.
dear manish,
with lot of indicators how you reach to any conclusion pl if you can share it will be helpful according to me lot of indicators together make one more confused so it will be great help if you can share your ideas
thanks
amrit
Its not like that.Even you can do that by open mindedness. Look I first see stochastic for overbought /oversold along with rsi. Then see bollinger band and kelter band along with ema. I go long short when heiken ashi say me buy or sell. I use ichimoku kinko hyo to know major trend in hrly chart along with support Resistance.Mbfx is used to know probable top or bottom for swing trade.I keep bird eye on charts. Harmonic pattern is inbuilt in my chart for watching probable trend reversal. I start my Pc at 8 am close it at 12 am.Hope you understand. You can't rely on single study you have to mix.These studies are few examples.I use alt tab in few seconds to switch between mt4, forexpros.com, amibroker and trading platform. My scrip is selected crude and copper for intraday so no tention what is happening in other commodities.
I use other indicators like ichimoku kinko hyo system, heiken ashi candle stick along with kelter bands and cog/mbfx system, harmonic patterns, many patterns like trinagle, wedge, double/triple bottoms/top, head & shoulder etc.