we are under a resistance composed of :
MA 20 around 9360
MA 50 around 9420
horizontal resistance and the bottom of the around 9480
Ma 100 : 9300
fibo 0.382 : 9220
; good no sell signal
: good around 48 and go up
: no good probably go down soon
trade example :
buy signal :
: blue line cross violently the red line
: bounce and go up
MA : bounce on the 150 MA (not on the chart)
buy confirmation :
: blue line go up and cross red line
buy : 9000
stop : 9700 (under fibo 0.382 and last low ) in theory my stop never reached because i sell when indicator give me a signal only a big and quick crash can activate my stop.
target : 9900 (just under last hight) (is not a real target because if i have no signal i don't sell ,or just a few part like 25 % , at the oposite if indicator give me signal before reach target i sell 25% 50 % or 100 % it depends on the strength of the signal...
ok for those who have seen my previous analysis (easy swing trading part1) maybe you want to know where is the 175 MA ? :) i told you guys , the method i gave you is a simplified version , i use with 4 h chart 3 MA (25,50,100) , but for more details you have to wait part 3 of Easy Swing Trading...
like if you aprecciate , thanks :)=