September 17, 2017
^DJI Dow Jones Industrial Average Index and Support Resistance
Picture worth a thousand words, see the analysis on the chart.
Thinking Process
There is a saying that professional trader trade retracement; in other words, instead on head on the trend, wait for the price action to weaken and drop back and enter when the price action is ready to charge again. So, in this approach support resistance become very key to the buy or sell decision. As you will want to buy support and sell resistance. Although support resistance is the most simpler technical analysis method. But it is also the most complex decision to decide where should be the right support resistance.
One criteria is the level has the most touch points of a horizontal line will be a good candidate of the right support resistance. See chart for more, as picture worth a thousand words.
September 15, 2017 Dow Jones Industrial Average and Support Resistance
Thanks for visit the site here. You could also find free MACD scan here in this site too.
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.