January 21, 2018
US Stock Analysis
^BKX NASDAQ Bank Index and Year High Low From 2009
We study Dollar Index and Volatility Index, without looking at the bank index is that the whole map is not completed.
Look left think right, spotted 2016 low test the high of 2010. And if you are pattern trader, you also thing there is a ABCD pattern in process, now is in the CD leg, the final stage of the CD leg.
If you do not understand what we are talking about, we suggest you read our past posting on H M Gartley ABCD pattern application and examples. Many illustration on ABCD pattern. Sorry, we did not draw it on our chart this time.
Picture worth a thousand words, see chart and think, think think (think more) and got more things. Have fun!
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.
January 19, 2018 NASDAQ Bank Index and Year High Low
As said, think think got more things. If we map in the MACD indicator. What the indicator said?
Dollar Index and MACD
We see the MACD signal is above zeroline. Bullish bias. We apply the breakout strategy for MACD signal.
January 19, 2018 NASDAQ Bank Index and MACD
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.