Are the 50sma and the 200sma support and resistance on intraday charts?

Discussion in 'Technical Analysis' started by ceaser, Feb 9, 2023.

  1. SunTrader

    SunTrader

    Maybe you can post a screen grab example showing how might help? Bear in mind OP is talking about futures and on a 1-5 minute basis.
     
    #11     Feb 9, 2023
    zghorner likes this.
  2. BKR88

    BKR88

    When markets are trending MAs work OK but in ranging markets you can get chopped up.
    Maybe add ADX (above 25 & rising) to watch for trending?
    When trading small timeframes I think it helps to zoom out to see the picture better.
    Min.1...Min.3...Min.5... (50/200 EMA)(S&P500)

    a.1.png a.3.png a.5.png
     
    #12     Feb 9, 2023
  3. zghorner

    zghorner

    Nah.
     
    #13     Feb 9, 2023
  4. mikeriley

    mikeriley

    Not an indicator guy, but using a simple 3 day swing
    works just fine compared to looking at higher time frames.
    Not sure why an intra-day trader would look at a weekly
    or monthly chart when he's trying for short term moves
    regardless of what the long term trend is doing.
     
    #14     Feb 9, 2023
    BKR88 likes this.
  5. maxinger

    maxinger

    [​IMG]




    Because sometimes the market
    moves a lot, sometimes a little
    moves very fast, sometimes very slow
    moves decisively, sometimes very jerkily
    ....
     
    #15     Feb 9, 2023
  6. easymon1

    easymon1

    If your stats show that your entries get better without the fitty and 200 congrats and give 'em the boot!
    What method do you use with 50 200 to enter a trade?
     
    #16     Feb 10, 2023
  7. ceaser

    ceaser

    I find sometimes the 50 and 200 act like support and resistance, sometimes price just goes right thru them. Yesterdays high and low the same thing, just happened today trading soybeans. Price came up just below yesterdays high so I sold. Then price went over yesterdays high, when it did the high is supposed to be support. I got in and sure enough price goes right down thru yesterdays high, irritating as hell. I don't use either MA to enter a trade, just trying to see if they are res and supp.
     
    #17     Feb 10, 2023
  8. easymon1

    easymon1

    Do your stats support that type of entry?
    In other words, if you go out and find a dozen times when "Price came up just
    below yesterdays high so I sold" and save a screenshot of it and record how that
    played out, do enough of them out of 12 turn out to be losers to reject that method in that form?
    Do you notice something in common with the priceaction around that level for the
    ones that won vs the ones that lost?
    Based on that quick look can you decide whether to adjust your rules and do a
    dozen more with that type of setup or to just move on?

    Here's one you could try a dozen on that has the rules all worked out for ya, and
    a boatload more ideas to test if that's of interest. Your mileage will vary.
    Double Top and Bottom
    https://elitetrader.com/et/threads/...t-right-here-baby.335635/page-18#post-5309309
     
    Last edited: Feb 10, 2023
    #18     Feb 10, 2023
  9. easymon1

    easymon1

    #19     Feb 13, 2023