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Oscillator values

Discussion in 'General Forex Talk' started by londonbridge, Apr 8, 2009.

  1. londonbridge

    londonbridge Recruit

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    Hey guys, what RSI and MACD values do you normally use on the 1H chart spanning a little over a week? How about your EMA's and SMA's?

    And how useful is the parabolic SAR really?

    going for medium length trading here (holding position for 1-3 days).
     
  2. ernest8fingers

    ernest8fingers Master Sergeant

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    To each his own

    Hey Bro-I no longer use any Indicators(only price action as it nears PivotPoint/support/Resistance) and Candlestick patterns. This is my opinion only-but Indicators never did a thing for me that PriceAction didnt do sooner.Good luck and happy trading.( Indicators do give a warm and fuzzy feeling, though, for those that like all that clutter on the screen)
     
  3. londonbridge

    londonbridge Recruit

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    when you say price action do you mean EMA crosses?
     
  4. ernest8fingers

    ernest8fingers Master Sergeant

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    Maybe

    No actually, I mean when the actual price of an Instrument rises or falls thru some short term important level(Support/Resistance/PivotPoint/yesterdaysHigh/yesterdaysLOW whatever level u think matters. I have noticed,in my short stint at trading,that when one of these "levels" are broken(especially in the longer time frames (4hr or longer chart) ) Price seems to continue in that same direction. This is PRICEACTION . U will see this as a "very long and strong" BAR or Candle on chart.They are usually followed by others. Usually,except when they are not(u got it wrong)! This past week was very "Flat"(not much action either way) except on Wed or Thurs when Employment#(USA) was released. It appears that the stock market is Rallying(a little) and thats where I am going with my money. FOREX is too one sided with dirtbag Brokers. I only trust one Broker(so far) out of the dozen I have had. And they are only 20 minutes from my house! Hope any of this helps.Goodluck.:)
     
  5. ernest8fingers

    ernest8fingers Master Sergeant

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    This is good

    If going for 1-3 day trades(SwingTrading) I suggest using nothing smaller than 1 hr charts(I like 4hr charts-my favorite for Swinging). I believe that they offer a better chance at catching some part of a Trend than smaller time frames. Of course, a bigger drawdown may occur before trade sees profit. as far as what Indicators to use-thats very SUBJECTIVE and I cant tell u whats best because I dont know. I also dont care as I dont use em. I will tell u one thing for certain : As the DOW goes,so goes the Eur/Usd-GBP/Usd-AUD/Usd. If the Dow is going up BUY Eur/Usd and opposite if other. This is right now and may change tomorrow.
     

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