(question)
Does crossing the 5EMA of the 1D chart mean at the close of the 1D chart or simply when it is crossed?
(answer)
Thank you for leaving a comment.
The 5EMA on the 1D chart is more of a psychological line than a support and resistance line.
Therefore, they are not interpreted like support and resistance lines.
Depending on how important the support and resistance points or sections where the 5EMA is located are, their meaning will change.
As mentioned in the idea text, if you are supported and rise in the 'L2' section, you can enter the 'LONG' position.
I said in this article that if it rises above 5EMA, it will start to rise, which means that the psychological factor is likely to work.
Therefore, you cannot enter a position based on the 5EMA.
If you enter a position based on the 5EMA, you need to respond very quickly, such as scalping or day trading.
It can be seen that the 5EMA of the 1D chart is used to prepare the basis for analysis by using more diverse contents in analysis.
Have a good time.