InvestorsHub Logo
Followers 49
Posts 1728
Boards Moderated 0
Alias Born 06/03/2007

Re: pennies2007 post# 78569

Wednesday, 05/18/2011 1:15:37 PM

Wednesday, May 18, 2011 1:15:37 PM

Post# of 140146
I think it would be extremely handy. Here's my analysis of EU from this morning. I entered a short trade early this morning because the price, 50sma, 100sma and 200sma all converged in the 1min chart. I call it "4's a crowd" which is based on a book I'm reading entitled Attacking Currency Trends. The author only uses the 100&200SMA's and calls it three's a crowd. Around 9:30 you can see that the price bounced hard off of the 15min 200SMA. He talks about this concept of reversals at SMA's of larger time-frames. Anyway, having these longer timeframe MA's drawn for me automagically would have been very helpful for this sort of price-action strategy. The four's a crowd setup really proved itself to me this morning. BTW, the last 4's a crowd price action setup in the 1min chart occurred way back on Sunday, many many positive pips ago. Now let's see if this is truly the top of a larger downtrend. A 5min double top appears to be forming as I write this so now it's time for me to sit back and see what happens.


Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.