exactly regarding those MA's. here's a chart I made a couple
years ago showing that phenomenon where price will bonce repeatedly
off the 9 EMA (and is a good place to buy) then once broken will at
least have a reaction bounce off the 20 day, and when 20 day is
lost then you get bounce off 50 day etc
We discuss that a lot with various stocks and XLE was a good
example today of at least a reaction bounce off the 50 MA
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Looks like XLE will open
Posted by fredsaid on 6th of Dec 2022 at 09:09 am
Looks like XLE will open near it's 50 day. Plan to take 3/4 off the table.
First test in quite some
Posted by steve on 6th of Dec 2022 at 09:39 am
First test in quite some time so very objective plan - nice trading Fred
exactly regarding those MA's. here's
Posted by matt on 6th of Dec 2022 at 09:45 am
exactly regarding those MA's. here's a chart I made a couple years ago showing that phenomenon where price will bonce repeatedly off the 9 EMA (and is a good place to buy) then once broken will at least have a reaction bounce off the 20 day, and when 20 day is lost then you get bounce off 50 day etc
We discuss that a lot with various stocks and XLE was a good example today of at least a reaction bounce off the 50 MA