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Group,
Here's a look at gold (physical product)...the April
futures contract. I use the TRIX(21) to define "trend" for all my equity
trading. I won't enter any position unless this indicator has the same
direction as any triggered trade. Bottom picking is less painful
after the bottom has been made. I'll wait for the TRIX(21) to turn up
before even considering a long trade.
One of the more amusing indicators (drawing tools)
that I have stumbled across is Tirone Levels. I found it to be one of the
best retracement indicators to add positions with. Many times, trends
develop and it becomes difficult to add additional positions. With a
little practice, Tirone Levels can identify retracement levels that seem to be
support levels (time and time again). I haven't developed anything
objective to support these claims, but I like using this
indicator.
Take care,
Steve
Cedar Creek Trading,
CTA
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