13 August 2021
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1) GOLD | Barrick Gold Corporation and River
Study Barrick Gold Corporation stock price action. We use moving averages, moving average is a good visual tool. Raghee uses 34 EMA, high, low and close moving averages to study the wave direction. We call the three MAs band as River. Besides study the wave direction. We be used to measure support and resistance. River resist when price action below the River. River support when price action above the River. Bull trend, when the price action slopping up. Bear trend, when the price action slopping down.
One trick is to wait for price action to draw near the River. this will reduce the risk and increase the entry success rate. But, there are always fail situation, manage your risk.
See chart, we find the stock price finally resisted by RIver. River is pointing between four and five o’clock.
Remember, we just read what the chart said. Have fun!
2) Barrick Gold Corporation and MACD Divergence
MACD is a simple indicator, one way is to use it to measure the price action strength. When MACD Divergence occurs, be prepare to trade the reversal. In other words, when price action forms higher high, bull trend. But the MACD goes the opposite direction, the reversal may happen. Lookout for a sell confirmation.
MACD Divergence is just like traffic light, you do not stop at each traffic light. But be prepared to stop. Therefore, a pull back may happen when divergence is formed, However the pullback may be not happened. Confirmation is very important to confirm the entry.
Trade what you see. Mange your risk.
3) Barrick Gold Corporation River and MACD Divergence
In AmiBroker charting software, it is very easy to add ore remove any indicator. See chart, we combine the River and MACD in one chart.
You could use River to assist in buy and sell decision, or MACD to assist in buy and sell decision.
Remember to buy support sell resistance whenever that is possible.
Manage your risk.
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.