Thursday, September 10, 2009

Scan the Instruments -Know Where You Are.

Indicators are Great. Select the ones that work for you. More is not better. Two or three can be more manageable than five or six. Too many is confusing and counterproductive. Once you have your selected indicators learn the scan them as a pilot scans an instrument panel.
2 Day, 10 min. - Sep. 10 - When the RSI is in the Basement it may be a signal to consider a high probability trade.
20 Day, Hourly - Sep. 10 - Oscillating within the Acceleration Bands. The center line in the Acceleration Bands is the 20 Day Moving Average. Above the 20 Day MA is bullish and below is bearish.
1 Year, Weekly - Sep. 10 - RSI in the Basement may signal trade opportunities.