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Originally Posted by 200
I am a intra day trader. I am using the TF30m to trade. I want to say: if is there any forecasting indicators to decide when to exit? It is very difficult to decide when to quit.
And how about using in TF30m?
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I have found that RSI and/or CCI work well for determining when to exit a trade.
For Buy :
Wait for RSI to cross below 50 from a higher value. With CCI wait for cross of 0 line from a higher value. If CCI reaches an extreme value over 300 you can also exit when it crosses the 100 line.
For Sell :
Wait for RSI to cross above 50 from a lower value. With CCI wait for cross of 0 line from a lower value. If CCI reaches an extreme value below -300 you can also exit when it crosses the-100 line.
There are other methods that use Stochastics, change of angle of MA or MA cross that are also useful.
Robert