Vote for a technical indicator, for daytrading

[El OchoCinco]

Quote from interdigital:

Can a price trader please explain how you trade on price without looking at anything else, not even support or resistance or any other patterns?

Do you just watch a stock tick up for a while, and then when it stops ticking up, you short it? Or if you see a stock that's been flat start to move in one direction, you enter in the same direction?

I dont think anyone said we ignore support and resistance, but how does a MACD or RSI or CCI tell you support and resistance. Looking at price action just means looking at the prices and perhaps volume for trends and support and resistance.

I am sure others have their definition which may be more detailed and I invite them to chime in. As for me, if you just used trendlines and price patterns alone you would learn alot about reading price action and you would stop looking at oscillators or bands or RSI.

 

[HolyGrail]

If a gun was put to my head I STILL WOULDN'T PICK ANY OF THEM.