using two MACD time frames here to give better signals.
Remember to always draw trendlines when dealing with MACD. They can help give better signals when the trendline is broken along with another signal like a zero crossing.
MACD signals along with price action breaking resistance levels are signals that carry more weight. Better odds if you wait until "multiple stars align" so to speak.
As for the price action ending of the wekk of MAY 26 2017 We can seen the uper MACD is going to test a long term trend line. That one does not to seem to carry as much weight as the darker trendline just below it there. So look for uniform action coming off that line on the upper MACD. At the same time the lower MACD just made a cross. This by itself is not a sell signal. Signal crosses to the downside above the zero line tend to not be very powerful. Wait for the bottom MACD to test the zero line for a confirmation in a trend reversal to the downside. I hope that makes sense? If it does not I can clarify. ***On the topic of the lower MACD, I should have drawn a light trend line from the start of the NOV 2016 thru the peaks in Feb and May 2017. If I had, then I could say that cross that occur outside the trend line tend to be more powerful crosses and carry more weight. So yes, This could be taken as a neutral signal(no reason to be biased bearish), and you need to wait for more time to get more info; or it could be taken as a bearish signal-especially if it were to have a weeks worth of negative price action next week. Hop that makes sense to you guys?
Got a little lazy on the chart here so not everything is marked.
Shout Out to ERIC-MUATHE for teaching me what I know.
Note to self: Learn about gap strategies more. What to do about recent gap?
Remember to always draw trendlines when dealing with MACD. They can help give better signals when the trendline is broken along with another signal like a zero crossing.
MACD signals along with price action breaking resistance levels are signals that carry more weight. Better odds if you wait until "multiple stars align" so to speak.
As for the price action ending of the wekk of MAY 26 2017 We can seen the uper MACD is going to test a long term trend line. That one does not to seem to carry as much weight as the darker trendline just below it there. So look for uniform action coming off that line on the upper MACD. At the same time the lower MACD just made a cross. This by itself is not a sell signal. Signal crosses to the downside above the zero line tend to not be very powerful. Wait for the bottom MACD to test the zero line for a confirmation in a trend reversal to the downside. I hope that makes sense? If it does not I can clarify. ***On the topic of the lower MACD, I should have drawn a light trend line from the start of the NOV 2016 thru the peaks in Feb and May 2017. If I had, then I could say that cross that occur outside the trend line tend to be more powerful crosses and carry more weight. So yes, This could be taken as a neutral signal(no reason to be biased bearish), and you need to wait for more time to get more info; or it could be taken as a bearish signal-especially if it were to have a weeks worth of negative price action next week. Hop that makes sense to you guys?
Got a little lazy on the chart here so not everything is marked.
Shout Out to ERIC-MUATHE for teaching me what I know.
Note to self: Learn about gap strategies more. What to do about recent gap?
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