Hi all, I would say that you guys should never panic until the MA10 reverses itself and starts to bend down.
It looks like a Daily chart, so is that a Daily 10MA?
Yes, thats what OP is referring to. This is one of the very simple trading techniques
Moving average is a lagging indicator...
Correct. So basically the OP is proposing to
follow the market, not to run ahead and to anticipate.
This is sound advice. At times you can indeed make a fortune with
anticipation, but generally this counts as
gambling.
To the contrary, closely following a larger scale trend, limiting your possible losses and not letting oneself influence by emotions and hype is more rational behaviour.
The latter does not yield so much returns on the single incident, but it does so more reliable. Thus, on the long run it pays out.