Anyone had much success trading NG in trending markets using the 200EMA on the 5min as entry point? Long or Short it seems a high probability reversal point... Today for example, after inventories, price rallied then pulled back to 200EMA and then rallied 6 points... Interested to other trader views...
scalp based on moving averages.. have a floor trader in the pit or algo only make the market either on the bid or ask for entry based on moving averages. Let the 'edge' bid/ask spread work for the pit trader algo.. offering or bidding till filled. Easiest way get a cubicle pit side with platform and EMA.. and relay info into the pit on which side he should be signaling.
Thanks for replies... Actually made an error here. I meant to to say 5min - 40EMA (which is more or less the same as 1min - 200EMA)... 5min - 40EMA looks a pretty reliable entry for intraday trades. Today another good example on the short side. NG has closed right on support... Any views for next week?
i'd go long above 3.6 otherwise the trend is down. NG may find support around 3.4 (about 200 DMA and previous resistance from the beginning of sept)