mga bossing. question lang po. studying more about trading makes me more confused! haha.
so far, i've read about trend lines, candlesticks, fibs, macd, and full stochastics.
where do you place your fibs?
example px. from consolidation, it made a morning star apr 28-30. stoch is oversold but it didn't cross the slow line. macd is below 0 and didn't cross the slow line either (slow line din ba tawag dun? hehe).
for apr28-30, the only sign of bullishness is the morning star. and that the stoch is oversold.
may 5. the stoch fast line crossed the slow
may 7, macd crossed the zero line and the fast crossed above the slow. but the price is still below the prev high of mar 13.
may 14, touched the mar 13 high. was this the day you buy? after all indicators were satisfied?
now i placed my fib on apr29, today it touched the 38.2 retracement, and a hanging man candlestick.
but the 32day SMA is in-line with the 50% retracement. both macd and stoch says it's not oversold and both fast lines are below the slow lines.
would i be right if i think that px might still go down or enter a consolidation? hands-off muna?
or this depends on the risk/reward appetite of the trader?
salamats mga sir.