So I'm fairly new to TA and have a couple questions. First, it seems that TA is fairly subjective as I can almost make any chart look the way I want by messing with the params (e.g. changing the MA length, etc.). What I'm looking at now is Gold (well, I'm looking at the GLD ETF stock). When I have it at 10 days, hourly view, the stock looks quite bullish as the 25 hour MA just crossed over the 75 hour and the 50 hour crossed bullishly just afterwards. However, if I pull back to 1 month with a daily view, the 25 day MA just crossed bearishly over both the 50 and 75 day MA. Which is more telling of the security? Should I assume that the bearish signal is longer term while the bullish signal is shorter term, but can become longer term? Thanks!
You should assume no such things. MAs are just averages. When price has been below prior prices long enough they turn down, etc. Thats all the signals tell you. They have NO meaning of their own - so your task is to extract meaning from them. Consider looking at price and price s&r and see if you can get the same picture. When you can then see if you can see more that way than with the mas. This might be a useful moment for you.
TA is not fairly subjective,it is that it just does not work (excepting pure price action, which is not really Ta indicator based). Learn to trade, and save the 1-3 year wasted journey that is TA Think about it. 90% of new traders lose their money, and probably a similar amount use TA. Hmmm...
I'm going to partially disagree with traderzone - not in his prescription but in his definition. Price only trading is still TA. Technical analysis by definition just says that we can get what we need from price or price and volume as they proceed through time. But the suggestion that you drop indicators is a good one if you are to be successful. They give one an illusion of certainty that is not real. Instead learn to read price action, get a feel for trends, understand what happens at support and resistance. In general, if you find yourself looking for certainty you're moving away from the grail. On the other hand, I am sure that no-one will feel a need to give you back your contributions if you get into some indicator trading while you learn what works or doesn't ... so you are welcome to try whatever you think might work. Who knows what you will find.