Are the 50sma and the 200sma support and resistance on intraday charts?

zghorner said:
I think you would have better luck marking 50 and 200 sma on daily and trading with that bias in mind on intraday candles. same as support and resistance lines...the longer the time frame, the more weight it carries IMO.
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Maybe you can post a screen grab example showing how might help? Bear in mind OP is talking about futures and on a 1-5 minute basis.
 
ceaser said:
I use both the 50 and 200 sma on my charts while practicing daytrading the futures market. I don't know if they are helping or hurting with my entries. Alot of times i will not enter a trade because they are right near price and price will go right thru them. I also plot yesterdays high and low and get mixed results with those to, they seem to cause indecision and result in bad entry's.
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When markets are trending MAs work OK but in ranging markets you can get chopped up.
Maybe add ADX (above 25 & rising) to watch for trending?
When trading small timeframes I think it helps to zoom out to see the picture better.
Min.1...Min.3...Min.5... (50/200 EMA)(S&P500)

a.1.png
a.3.png
a.5.png
 
Not an indicator guy, but using a simple 3 day swing
works just fine compared to looking at higher time frames.
Not sure why an intra-day trader would look at a weekly
or monthly chart when he's trying for short term moves
regardless of what the long term trend is doing.
 
images




Because sometimes the market
moves a lot, sometimes a little
moves very fast, sometimes very slow
moves decisively, sometimes very jerkily
....
 
ceaser said:
I use both the 50 and 200 sma on my charts while practicing daytrading the futures market. I don't know if they are helping or hurting with my entries.
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If your stats show that your entries get better without the fitty and 200 congrats and give 'em the boot!
What method do you use with 50 200 to enter a trade?
 
I find sometimes the 50 and 200 act like support and resistance, sometimes price just goes right thru them. Yesterdays high and low the same thing, just happened today trading soybeans. Price came up just below yesterdays high so I sold. Then price went over yesterdays high, when it did the high is supposed to be support. I got in and sure enough price goes right down thru yesterdays high, irritating as hell. I don't use either MA to enter a trade, just trying to see if they are res and supp.
 
ceaser said:
Price came up just below yesterdays high so I sold.
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Do your stats support that type of entry?
In other words, if you go out and find a dozen times when "Price came up just
below yesterdays high so I sold" and save a screenshot of it and record how that
played out, do enough of them out of 12 turn out to be losers to reject that method in that form?
Do you notice something in common with the priceaction around that level for the
ones that won vs the ones that lost?
Based on that quick look can you decide whether to adjust your rules and do a
dozen more with that type of setup or to just move on?

Here's one you could try a dozen on that has the rules all worked out for ya, and
a boatload more ideas to test if that's of interest. Your mileage will vary.
Double Top and Bottom
https://elitetrader.com/et/threads/...t-right-here-baby.335635/page-18#post-5309309
 
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