Which Moving Average on a 5min Chart?

[Keys]

Which moving average works best day trading on a 5 minute chart?

[Soultrader]

I dont use moving averages on my intraday charts but am careful for the 200 MA on the 5minute chart. This can act as support or resistance mainly because other traders watch this.

[Stockaddict]

I have found the 20, 50, and 200 to be useful. As always, it is traders preference.

[namstrader]

I have found that the 34 ema is very trustworthy as a pivot to fade. Woodies group uses this moving average with the cci.

[carter]

	Quote:	namstrader
	I have found that the 34 ema is very trustworthy as a pivot to fade. Woodies group uses this moving average with the cci.

Hi namstrader,

Do you trade as part of Woodies group? I am familiar with Woodie from the cci. What does Woodie mainly trade and in what time frame? Thanks

Carter

[namstrader]

I spent about 6 months watching and learning from Woodies room. I got tired of the politics. He looks at the 5 minute primarily and also his claim is "who needs those stick'in prices" and trades with the cci only, and his setups include: zero line reject, ghost patterns, shamus, plateaus, etc.

[Soultrader]

Interesting.... although I can not agree with his comment of "who needs those stick'in prices". I actually landed on his site a few months back and read the free file or pdf he offers. Learned all about the CCI trading patterns but never bothered using them or checking it out.

He must be in love with the CCI to hold such confidence in it. Did you find trading purely on the CCI profitable?

[carter]

Haven't seen his track record but I will never place an indicator before price. He seems to have conviced alot of novice traders in using the CCI. This may evetually backfire when the indicator no longer does what its supposed to.

[Keys]

Is Wooides room free? I am interested in learning some of his methods.

[namstrader]

I myself eventually became disillusioned with so many different setups, with setups that were for prior setups that failed. I did become comfortable using the 34 ema as a fade when prices are not flat and there is angled pricing. I have implemented the cci and rsi with my own adaptations, as my lagging indicators. I use trendlines on the cci and rsi, when I see a 3 point trendline for both, and also a 3 point trendline on the ER ticks (which leads) I am prepared to a take position. Another setup I like is when a trendline of 3 or 4 points on the cci and rsi is broken, a explosive reverse has been observed to occur. Also when the cci stays below 100, or for some they use the zero line, or trendline break, a trade is exited when broken.