Also I always mention the 20ema as many markets depending on their volatility do see resistance when under the falling 20ema and see it as support when above and rising. Twenty trading days is 28 calendar days which is a well known cycle in most everything in nature. It does repeat all the time in so many things. So that does show up in charts. Just check out a bunch with a 20ema on them and see price poke its nose above or below depending on direction and then reverse. One could argue that 20sma would be more accurate but the lagging effect on simple moving averages need to be front weighted somewhat so ema moving averages best reflect trends. Just put both on such as a 20sma and 20ema and you'll see this sma lag and just meander all over the place long after price has reversed. Doesn't take too many charts to realize this. Just thought I'd mention this too as the 20ema is the main thing I watch for other than the chart pattern and price action itself. But regardless it is always an important component to track. If I only had one indicator to trade off of it would be the 20ema.