4 July 2021
Welcome!
Welcome to AmiBroker Academy dot com, amibrokeracademy.com.
We will use 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 crypto currency chart. See our reading of price action.
What we do here is to translate price action chart into layman language for you to understand, ie Picture worth a thousand words. You can learn to do this too. Remember all analysis read the price action chart differently. It is just like reading an essay, all will have different conclusion.
Trade well.
1) NYA | NYSE Composite Index and Ichimoku Cloud
Ichimoku Cloud is a trend following strategy tool. We see Tenkan Sen trending up from last August. In between, Tenkan fail to cross below Kijun. Bull trend ended in May, and begin to go sideways.
Ichimoku Cloud is a multi-dimensional indicator designed to offer support and resistance levels, trending, and entry and exit points. Price Action after test the high and pullback to close below cloud. Price Action stay below cloud, ie bear trend.
Price Action may go below cloud anytime.
Trade what you see.
Manage risk is a key in trading.
Moses Free Charting
2) NYSE Composite Index and Support Resistance
Price Action goes from low to high. You can see price action goes from bottom left to top and pullback. However, the price action fail to go higher in the last two months. From the boxes, the month high low May is about the same high as June. 16,700 level might be the level to stop the price action from going higher.
We use box to box month high low to find a key level. See chart. We have plotted three strong levels. Can the support hold the fall? Will see.
Trade what you see. Manage your risk.
3) NYSE Composite Index and River
Moving Average is a great visual tool. Raghee uses high, low and close 34 EMA to form a band to determine the wave direction. Price action is currently close above 34 EMA and 34 EMA pointing up? Trade what you see.
Trend seems to weaker, as it is closer to River. Currently, 34 EMA is above 200 MA, and both MA are wide open.
From a different view, we see price action is above support.
Manage your risk.
4) NYSE Composite Index and GMMA and Woodies CCI
Price Action and Fast MA (green) stay above Slow MA (red), Price Action and Fast (green) are supported by Slow MA (red). Can the price action closed below Slow MA (red)? Will see. Trade with eyes open.
See divergence, manage your risk.
5) NYSE Composite Index and Bollinger Bands and Moving Averages
Price Action and moving averages:
^NYA, NYSE Composite Index price action has closed above its Short time (20 period) moving average.
Short time (20) moving average is currently above mid-time (50), AND above long time (100) moving averages.
20 and 50 MA are near parallel and close to each other. 100 MA and 20 and 50 MA are far apart.
Bollinger Bands:
^NYA, NYSE Composite Index price action has closed below upper band.
Bollinger Bands are narrower than normal.
Manage your risk.
6) NYSE Composite Index and MACD
We see price action continues to go higher and hit the ceiling. Remember all these can not come without any signals.
Don’t take MACD lightly. So, don’t play play.
7) NYSE Composite Index and Amazon.com Inc Correlation
All hitting ceiling, except Amazon has halted by the ceiling much earlier than the NYSE Index. Trade with eyes open, trade what you see.
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.