Wave
Use the High, Low and Close Moving Averages to form a band, some called it wave and other called it river. This is a variation of Moving Averages. It has the same results as single MA but provide even more visual luxury.
Price Action above MA, Wave or River gives the buy bias, and PA below MA, Wave or River gives the sell bias.
Moving Average Number
What number to choose? Each trader has their reason to pick a number, example 20 MA smooths out one month price action, as one month has twenty (20) trading days. Other number such as 34 seems to be worked very well too. 34 is one of the Fibonacci numbers. Many feel good on Fibonacci numbers.
Fibonacci Number
In mathematics, the Fibonacci numbers or Fibonacci sequence are the numbers in the following integer sequence: 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, …
Wilmar International F34, Wave, River
Wave or River is a visual luxury. Train your eyes to find price above or below River.
When you are good MA is no different. You can get the same results as single MA.
May 29, 2015 Wilmar International
Wilmar International F34, Moving Average, Trendline
- PA has been bounced off 100 MA.
- PA crosses above 100 MA
- Look for long, when PA pull back to 100 MA and get supported.
- Long when Bullish chart pattern completed
Only buy when the pattern completed, do not jump the gun.
May 29, 2015 Wilmar International
You can read previous analysis on F34.
Thanks for visiting the website.
Moses
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