Not really. I find they're great for past direction, good (but not essential) for future direction, poor as support/resistance and very poor as entry points. Actually I ignore all candidates for resistance in an uptrend and for support in a downtrend.
Correct, Trend trumps S/R, this way you don't take profit to soon, let the trend run. Use for entries with Trend only, and then have a 2nd entry / possible reversal point or even 3rd.
My suggestion, just ignore them completely. Or to just have as a heads-up on what they crowd watches. There are far better TA way's to determine "time to go".
i think it depends on how well you understand the use of the indicator. As for me, I have a profitable trading strategy using moving average indicators only.
MA's are the only indicators I use, and my trading strategy is profitable. This might be due to my understanding the use of the indicator pretty well.
Turkeyd, thanks. A few questions for you. "Stock D1 trading" - what does the D1 connotate? Is this for individual stock or indexes? When you say the 9sma/21ema/50sma/200sma works great, how do you use them? "Day trading, 18sma + Envelope 18sma 0.04% and 9sma + BB 9 2.2 has been kicking ass." What does the evelope 18sma 0.4% and 9sma + BB 9 2.2 mean? How do you combine these different indicators to use? Thanks!