/biz/ - Business & Finance

>>24087251
the 200 SMA on the hourly and daily are used by institutions, as well as the 50 and 20 to lesser extents. that's why i based the keltner channel off of it (another anon came up with the idea and uses the 16x with a VWMA on the daily for TQQQ to determine where to sell and i believe 4x below to buy, but it's a similar concept). i've posted this vid a couple of times but it's a good watch because i respect jared a lot: https://youtu.be/caLyY6kNihw?t=2462

when a guy who hates indicators and trades entirely naked charts for price action and volume patterns tells you the ONE indicator he actually respects, you should listen. i use the hourly because i want to take more trades over smaller time frames with swing trading, but i can also show you pic related on the SPY on the daily for example during the covid crash. it's just that generally on the daily it gets to the bottom waaaay less frequently, and you'd be holding positions for waaaay longer. in most cases on the daily, excluding crash style events which happen maybe once a decade, you're better off buying at and below the 200 itself.