Contradictory indicator signals

Beginner Questions
1

Hi

  1. If I see that the price is currently above all the moving averages I used in 4 hour and daily time frame (indicating moving average clearance for long position), but the price is below all moving average I used in 1 hour time frame. Should I short or long my position? I am looking at day trading and to close the trade by the day.

  2. If I used three indicators, Stochastic oscillator, MACD and RSI, but they are not pointing to the same direction, which one should I use? or should I based on certain indicators only? or maybe if two out of three is indicating the direction?

Thanks in advance.

2

What’s the parameter of your moving average indicator? Are you talking about default or anything else?

3

Study more and more on candle patterns. Patters are much powerful than trading indicators, yes you can use the indicators but please don’t rely on only indicators!

4

Thats bull solid waste and you know it. Candlesticks are an indicator as well that lag according to the timeframe they are applied.

Their patterns hold no magical powers to forsee the future.

To the OP. Think about this maths problem.

Using only four 4’s and any mathematical expressions come up with 100 equations with the answer 1 to 100.

All indicators are just mathamatic expressions of price vs time. Thats why you can get conflicting signals. None are right but then none are wrong

5

Try to understand the psychology of each price action and whether the indicator are consistent, if so, then indicators will create a high probability trade.

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6

The best counter indicator on the planet is, Dennis Gartman, I have made loads of money fading his positions. So sign up for his news letter and fade his calls. The pathway to riches I tell you.

The Ever Fading VIPER

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7

If only it were as simple and reliable as this implies. “This time next year, Rodney, we’ll be millionaires”.

8

Instead of nitpicking other people’s comments, why don’t you build confidence in making your own comments? Too afraid ? Need another thread to hold your hand ?

9

Forget about all this simple things,remember that as soon as any working patterns are discovered they are quickly priced in market as perfect competition place.

Currently markets are completely driven under EXPECTATIONS. Price patterns, i.e. technical analysis is the representation of past things it can’t work under efficient market hypothesis

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10

Agreed, if you continue to adapt and keep in mind that “others have the same idea as you with high probability trade indicators,” do not hesitate to change your thinking and keep adjusting and learning the market’s psychology and consider the sentiment, or else the trade will become unprofitable eventually.

11

so do u mean that fundamental and sentiment analysis are more important than technical analysis?

12

I used 20, 50,100 and 200 SMA.

13

Its not just important its the sole valid approach for retail trader. Technical analysis is a waste of time and eventually traders come to this conclusion.

14

Good recommendation! As a based, price action is a much powerful trading tool than technical indicators! Indicators can be the additional supporter!

15

For understanding market sentiment, try to learn support/resistance based trading! It’s much powerful than moving average trading tool. Don’t depend on only technical tool.

16

But patterns work in the support and resistance level.

17

you wait until h1 goes in the same direction of the h4 chart