Learning On LeoFinance: Another Look At The 50 Days Sma. So Simple Yet So Effective. .

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I have been on LeoFinance now for a couple of months and I must say it has been every bit wonderful. I have learnt loads and loads of stuffs for absolutely free on this beautiful platform. I have, and am still making great financial gains from information gotten here. One of such being the wonderful CUBDEFI. Got in at an early stage, thanks to prior information here.

As a newbie crypto trader, every hint, every guide one is able to get is of great help. Joining LeoFinance, I have read and learnt a lot from members on their different style and strategies of trading. One of such person is @geekgirl.

Prior to now, as a crypto trader, I have always seen the Moving averages as a lagging indicator and as such hardly use them.

My mindset completely changed after reading a post by @geekgirl titled '50 Sma Did Not Let Me Down. It Is The Best'

I thoroughly enjoyed that piece and through it, added a valuable tool to my trading. I gave it a trial and viola it worked like a charm.

For some days now I have been using the 50 days Sma and I have been able to get better result.

Let's look at some recent trade set ups and see what am talking about

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The 50Sma has acted as a strong support for price of the Hive token.

Taking a long position every time price touches the 50 Sma, turned support, shows a wise decision. It has also acted a trend line too.

Another very recent setup I took

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TRX 50SMA, price has always pulled back from there, strong support.

This has worked pretty well on all time frames and on most currencies. It has acted, so far for me, as a
Support
Resistant
Trendline
Entry/exit point
Trend guage

I believe it is a useful tool if you care to try it out, especially for newbies like me. And also remember it works best with other indicators for better confirmations. Most times it is best to keep it very SIMPLE. As simple as the SIMPLE MOVING AVERAGE.

Posted Using LeoFinance Beta



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