Quote from N54_Fan:
I know it was momentum indicator but which one (you never said)? You also do not describe its use. ...
I have included a detailed view of the SHORT SPY trade I took on 7-27-11. The trades in my trend trading system are based off the 60 min chart but no trades are taken unless they coincide with the same BUY or SELL signals on the Daily as well as the Weekly charts. So ALL 3 time frames MUST give the same signal on MACD, Histogram, Stoch, and EMA Crosses. Simple... Nothing fancy!! No pocket calculator required!! Any stock can be evaluated in 1 min or less this way. The short was SPY @ $130.34 with stop at $132.34. Position was covered on 8-11-11 at 115. $2 risk and $15.34 reward. Simple.
I at least have proven what I am saying both with YOUR TRADE on the AUD:USD and on my recent short of SPY. So there you have it...detailed data walking you through a trade. Maybe that will provide some education to you and others that feel these 1970's indicators are worthless. I'm sure you will say that they are still worthless....but in your hands they probably would be.
Only one chart can be posted so the others are on next 3 posts.
Your turn to walk us through a trade....