closed SDS long from Friday posted here
#1
Posted 18 June 2007 - 09:11 AM
#2
Posted 18 June 2007 - 10:02 AM
SPX cash is yet to move below the 5sma on the 60min on any sustained move today....let's see what happens from here.
Apologies for lack of knowledge, what's a/the 5sma?
thx
mike
#3
Posted 18 June 2007 - 10:05 AM
Edited by hiker, 18 June 2007 - 10:08 AM.
#4
Posted 18 June 2007 - 10:51 AM
---five-period simple moving average (sma) can be plotted on any timeframe
OK!
and thanx a lot for the references.
One reason I asked is/was that the spx had moved & closed below the 60 min 5sma at the time of my reply query, so first I thought to enquire.......
so I suppose that the real question would be what will constitute a sustained move...
I see that the current bar is turning the 5sma flat to even a little uppy even tho it's at or just below the 5sma ...so while the sustained move down is stalling currently, what would be considered sufficient to generate confidence in a decline?
thx again,
Mike
Edited by kamakazeman, 18 June 2007 - 10:52 AM.
#5
Posted 18 June 2007 - 10:57 AM
Edited by hiker, 18 June 2007 - 11:04 AM.
#6
Posted 18 June 2007 - 12:06 PM
thanks for asking Mike. appreciate the conversation.
you do not need a crystal ball to determine trade entries and exits if using such a system...what is happening other than price in the equity or ETF being traded can be ignored because all else besides price action is a distraction.
I have always thought so too. Avoiding distraction is sometimes difficult........
ANYWAY, is that a legit triangle/flag that the 60 min spx was trying to break out of to the upside just a few minutes ago?
mike