I just wanted to show an example of picking the right market and reading it in the simplest but most effective manner. No market read will be perfect regardless of how good any trader is but there is no point making it hard on yourself.
A simple momentum indicator teamed with a moving average that works when the selected market is trending, is really all you should need. The momentum indicator on this chart is the "rate of change" of my own TSR indicator but it should work with any of the popular momentum indicators. Don't look for market extremes, look for the direction of momentum and how strong it is. If momentum is up and gaining strength, go long, especially if it is doing it around a well proven moving average. Of course the reverse is true. If you aren't getting turns on a well proven MAV the the market is either going sideways or changing direction.
My example is the Footsie futures which I have described in the past as a "Gentleman's market" because it does move nicely in waves. Last night's action was a pretty good example.![]()
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