10 July 2021
Welcome!
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We sometime bench mark stock price action with index such as Dow Index. The following example, we benchmark VanEck Vectors Biotech ETF and Dow Jones Industrial Average Index. We use other tools such as 1) Ichimoku Cloud, 2) Support Resistance (using box), 3) River (moving average), 4) GMMA and Woodies CCI, 5) Bollinger Bands and Moving Averages, and 6) MACD to analyze chart. See our simple reading of price action. We read Cryptocurrencies price action chart too.
We translate price action chart into layman language. This will help you in understand the financial instrument you are trading. We believe picture worth a thousand words. So, sometimes we use less words. You can learn the price action interpretation too. Give it a tray. You may not have the same view points as us. Remember all analysis read price action chart differently. It is just like reading an essay, we will have different conclusion.
Trade well.
Trade what you see. Manage your risk.
1) VanEck Vectors Biotech ETF and Dow Jones Index Correlation
We use bollinger bands to envelop VanEck Vectors Biotech ETF. VanEck Vectors Biotech ETF has move from low to high from last September. Thereafter, VanEck Vectors Biotech ETF price action fail to move higher, price action pullback to test the 200 MA. 200 MA continues to slop up. Price Action continues to test 200 MA floor. After get support from 200 MA, the price action breakout higher in June. Remember, we all highlight to buy support and sell resistance. If you have enter from support in May, and take profit in June, you will be quite okay.
Trade what you see.
Dow Jones Index price action goes from low to high. Price Action has hit the ceiling, and price action seems moving in sideways.
Remember, we just read what the chart said. Have fun!
Moses Power Charting
Official AmiBrokerAcademy.com Charting
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.
We learn from many past and present great traders. Kudo to these master.