What is a good price to enter? let technicals guide us instead of the price
Over time, I have often received the question asking what is a good entry price . After trading for a while, I have found out that it could be better to follow technicals more than some "target" prices (estimated resistance or support levels). First, resistance and support levels are not a singular price point. Usually, the resistance or support is a zone (a range of prices), not so much a "specific" price. As most of us know, "trend is our friend" and thus, we are recommended to trade with the ongoing trend. To understand this better, let us look at Microsoft $MSFT using the 1D chart as an example: Looking at the 1D chart above, we can see that the price is on a decline. From Stochastic and MACD indicators, we can see that it is on a downtrend . Other moving averages (MA) technical references above are based on simple and exponential MA. From the MA technicals above, this points to a likely sell trend...