Replies to post #121976 on Simple's Green Room

[javalin]

Panic thanks for your info too-i see what you are talking about

[simplegreen]

Hey PB!!..I see from your posting history you dropped off the planet for a couple of years(LOL)..hope lifes been treatng you well and good to see you back.

[pennies2007]

Hey Panic Button. Good to hear from you. :-)

I've actually gotten away from the 100 and 200 SMA's as a whole over the years. I've discovered that other levels, such as EMA fib-based levels and the SMA240 are pretty powerful. But there's no denying that those 2 are still used heavily.

My favorite combination is the SMA20 and the SMA240 on the small time frames. Basically, all I do is look at each one and ask myself a simple question....is the SMA20 above or below the SMA240? If above, then I look for opportunities to go long to get back in on the trend. If it's below, then I look for opps to go short. Of course, I always look at the larger time frames just to keep things in perspective.

But my primary method of trading is using Elliott Wave theory and Goodman wave theory. It's taken years of study to be able to use them effectively, but overall I've found them to be one of the only truly predictive methods in trading rather than reactive.

Of course, like any other method, it's still subject to confirmation by price action. In the case of NU, if it manages to rise above the last peak of 0.8163, I'll take on a more bullish stance.