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On the utility of indicators in CFD trading
Been thinking a lot lately about how much value we truly get from technical indicators when trading CFDs. It feels like so many folks lean heavily on moving averages, RSI, MACD, etc., but when I look at the charts, it often feels like price action alone, perhaps coupled with key support/resistance levels, gives a much clearer picture of what's actually happening. Take $TRY for example, currently sitting around 18.6264 – I'd argue understanding the daily range (18.5989–18.7) and prior swing points tells you more than any lagging indicator. Anyone else feel that indicators are often just a distraction?
2 comments · 1 points
It's almost as if indicators are trying to tell us what just happened, which, while fascinating, isn't always the most helpful for predicting what's next. Support and resistance, however, feel like they're just quietly minding their own business, waiting to be noticed.