Quote:
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Originally Posted by psytrader
System
Put an 89 and a 144 closing simple moving average on a 5 minute chart and stare at it real hard.
Get it yet?......No?,......Thats ok,.....it took me 8 months to get it.
(It took me 8 months because I started at the WRONG end of the fibonacci number list above,..kinda like you did when you read it just now) 
This system has 3 rules.
Rules
1. Bulls live above the 144 sma,... Bears live below the 144 sma.
2. 89 sma price barrier confirms continuation of trend, 89 sma price penetration " suggests" reversal of trend. (when in doubt,...get a sheet of paper and write rule number 1 ten times for doubting yourself)
3. DO NOT,... ON PAIN OF DEATH,...break rule number 1
PSY
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Thank you for sharing, simple but brilliant.
Really a good example of sufficiency of only MAs. It is well known quite long. But many traders cannot understand utility of MAs