Traders use many moving averages to plan their trades. Example 200 SMA, 50 SMA, 89 EMA, 34 EMA, 21 EMA, 14 EMA etc. 2 moving averages cross over is seen by many traders for more confirmation in the direction of trade.
One of the Just Nifty Gems - Mr. Shiram uses 34 ema on 30 minutes chart to initiate trades. If two c andles (30 minutes) close above 34 ema we can go long with suitable stop loss and two candles close below 34 ema we can go short.
He uses , Elliott Waves, Candle stick patterns, Price clusters etc. to find supports, resistances as targets and placing / trailing stop loss. He mainly trades in the direction of day trend.
This 34 ema can also be observed for other time frames like 5 minutes etc.
One of my friends, Mr. Vinay Kumar has suggested me to read http://www.educatedanalyst.com/the-magic-of-50ema . I found it to be helpful.
One of the Just Nifty Gems - Mr. Shiram uses 34 ema on 30 minutes chart to initiate trades. If two c andles (30 minutes) close above 34 ema we can go long with suitable stop loss and two candles close below 34 ema we can go short.
He uses , Elliott Waves, Candle stick patterns, Price clusters etc. to find supports, resistances as targets and placing / trailing stop loss. He mainly trades in the direction of day trend.
This 34 ema can also be observed for other time frames like 5 minutes etc.
One of my friends, Mr. Vinay Kumar has suggested me to read http://www.educatedanalyst.com/the-magic-of-50ema . I found it to be helpful.
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