The Magic 8 is reference of when to go long a stock after a drop of its price action. An arrow will fire off and the background will change, when the price action crosses the 8sma (from above or below). The target would then be the 20sma or the 50sma with a stop one tick below the 5 min entry bar. This was emphasized to me by Jory Lamping at Traderstoolbox. I...
