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For our patterns, I will change the chart into line charts to clearly see the patterns
For our support and resistance, I will change it back to Candlestick Charts.
When at the resistance – Seller (There are more sellers than buyers)
When at the support – Buyer (There are more buyers than sellers)
Fibonacci Retracements:
In Downtrend, Start at the highest point and drag up to the lowest point.
The lines represent a possible support/resistance and reversal points.
When short-term moving average crosses above the longer-term moving average, it gives a
buying signal and indicates the beginning of an uptrend and vice versa.
Fast MA Crosses Above a Slow MA – Buy Signal
Fast MA Crosses Below a Slow MA – Sell Signal
EMA:
If the MACD line is ABOVE the Signal Line, that is a BUY; Positive Crossover
If the MACD line is BELOW the Signal Line, that is a SELL; Negative Crossover
When above 70 zone, stop buying, instead, Wait for a reversal, if below the 70 zone,
that’s the time to buy.
When closer to the support area, that is the best time to buy
There is a bearish divergence if the higher high (new high) is not the same or higher than
the previous high. It lacks strength. It tells you a potential wider reaction will come.
(Sell)
There is a bullish divergence, if the lower low (new low) is not the same or lower than
the previous low. It tells you a potential wider rally will come. (Buy)
If the prices are not in an overbought line, it is a positive trading that the prices will
still go up. It is a BUY SIGNAL