RE: UK Stocks - Watchlist and Discussion (Premium)
(2015-04-06, 11:41 AM)isatrader Wrote: The slope of the monthly MA doesn't matter as it's a very long term MA, but will most likely be sloping downwards when the weekly is trying to breakout into Stage 2A, as price is usually only just recovering above the 30 month MA for the first time in many years.
I'm sure not by coincidence a lot of the short term stage 4s we've been seeing have all looked like retracements to the monthly 30MA.
Certainly something to bear in mind when looking to go long or indeed short. A short that looks promising is probably lining itself up for a bounce on the 30MA..see if I can code that as an indicator and have that on my chart displayed also