Thanks Kroxobor, so far I've been using a 9 EMA and 25 SMA with the 200 SMA there just to keep my bearings. What I don't understand yet is what happens when you examine those from different timeframes: say 1 min, vs 1 hour or longer. Seems to change how you should interpret the signals, but I have no idea how yet.
Have you looked at using Moving Averages as Support and Resistance levels to set up price action entries off of?
No, haven't tried that applying them that way yet. I've only been using really basic EMA/SMA crossovers to get in and out of trades, but I'm still pretty lost in terms of how to set price targets.
Sure here's premarket and today's chart for AMD. I've been using 9 day EMA crossover with 200 SMA and watching the RSI as well. Today seemed like a good morning to get in, but I let analysis by paralysis take over. Still really just getting started with Technical Analysis so any pointers more than welcome!
https://yippy.com/search?query=day+trading+support+resistance+levels+candlestick+signals day trading support resistance levels candlestick signals
Thanks so much Easymon, this is great! I haven't tried Fibonacci ratios at all yet, just read a bit on them, but I'll try them out. So when you say your strong preference is candlesticks + support/resistance, does that mean you're skeptical on moving averages being helpful?
Moving Averages are the bread and butter of this approach. Things like prior swing high/lows, fibs, trendlines, channels are all good but need to be drawn on a chart, so not as Simple, take time, clutter the chart, subjective and error prone, not that I don't use them, I do, but ... Things like moving averages, (maybe add a 50ma to your chart), round numbers, pivots are good because they draw themselves and make obvious levels for basing trades off of by using the entry setups supplied by SIMPLE candlestick signals - like Hammers and Engulfings at Support and Resistance. Starting with just these tools in the box a trader can gain much insight into price action and maybe make a few bucks along the way. "Trading at Support & Resistance provides greater conviction." https://elitetrader.com/et/threads/...t-right-here-baby.335635/page-10#post-5014575 10 Ways Traders Take Profits https://elitetrader.com/et/threads/...t-right-here-baby.335635/page-13#post-5073703 Keep it simple, it'll get complicated all by itself.