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CD Leg | Fibonacci Retracement | Dow Jones Industrial Average | AmiBrokerAcademy.com

February 13, 2018

 

Fibonacci Level is a good way to understand the market reaction and momentum.

US Stock Analysis

 

^DJI Dow Jones Industrial Average Index and Fibonacci Level

Take a Fibonacci swing low from September month low, you will find the price action has completed a perfect 61.8% retracement. The only thing or bonus is the price action did not close below 61.8%. Monitor the price action for the next couple of days to see how the market response to this level.

Take note on the possible ABCD pattern, watch the development of the CD leg.

Manage your risk!

 

Powerful Chart Software – AmiBroker

The following chart is produced using AmiBroker charting software. It is a powerful chart software. You plot the stocks you are interested all in one chart, as long as you still could read them. See chart below. 

February 12, 2018 Dow Jones Industrial Average and Fibonacci Retracement Level

 

 

 

 

Moses

AmiBrokerAcademy.com

Disclaimer

The above result is for illustration purpose. It is not meant to be used for buy or sell decision. We do not recommend any particular stocks. If particular stocks of such are mentioned, they are meant as demonstration of Amibroker as a powerful charting software and MACD. Amibroker can program to scan the stocks for buy and sell signals.

These are script generated signals. Not all scan results are shown here. The MACD signal should use with price action. Users must understand what MACD and price action are all about before using them. If necessary you should attend a course to learn more on Technical Analysis (TA) and Moving Average Convergence Divergence, MACD.

Once again, the website does not guarantee any results or investment return based on the information and instruction you have read here. It should be used as learning aids only and if you decide to trade real money, all trading decision should be your own.