Quote:
Originally Posted by Kenny Rogers
Here is my advice to all traders, price action and a couple hand drawn lines are the only thing you need to trade successfully.
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Although I want to add that indicators are useful to detect relative overbought and oversold conditions. I like it to find pullbacks in a trend with it.
I prefer to look at the CCI (not some mumbo jumbo Woodie garbage and shameless marketing fraud). CCI is just price action in a laggy form, but I use it to see when there are spikes and how that movement is relative to the current price range.
This is another method I learned from the old timers.
I'm looking for a histogram version of the simple CCI, I don't like the line version...if anyone sees one, let me know.