25 September, 2019
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^BKX NASDAQ Bank Index Stock Charting
Study NASDAQ Bank Index stock chart and Fibonacci.
Look left and think right. It’s depending your expectation.
See chart, picture worth a thousand words.
Add Fiboancci to use Fiboancci level to find support and resistance.
Swing low to high, we find the price action supported near 61%. Sometime the price action do not exactly stop at the Fibo level due to many reason. But the level provide a great reference to trader to take precaution.
After the price action supported, are retrace up. We swing low to high to find key level. See the price repeatedly test the resistance four times.
Same for the price to test and retest the support near 50% level.
Trade with your eyes open.
Moses Stock Observation
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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.