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I am looking to trade the dollar on a 5 minute timeframe. Can anyone recommend a set moving averages that I can use? Do I need to use a shorter moving average for a shorter time frame? Or does this not matter at all? Thanks |
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I personally trade use a 20, 100, and 200 moving average on a 5 minute chart. The best set is to use a shorter MA combined with a longer MA. If price is above both moving average's look for a long setup. If price is trading below both moving average's look for a short setup. Try experimenting with it first. You will find ones that you will like.