ARKK - Daily with Fib extensions and Waddah Attar Explosion ARKK - Daily with Fib extensions, WAE
Had to chart an ARK fund today, after CNBC treated her so rudely like they do with any guest they don't agree with. If you are a day trader/active investor do yourself a favor and ditch CNBC. They are NOT on your side.
Look at the 3 MA's used, the 8/21EMA and the 200MA, the fund has dropped below all 3. Tread carefully.
Quick review of fib extensions and I am starting to incorporate the WAE (Waddah Attar Explosion) indicator by Lazy Bear. Volume is always something I am looking to increase my knowledge on, and a friend of mine recommended I give this a try.
This indicator shows areas of trend strength, direction, "explosion" line, and a dead zone marker.
Explanation from the indicator developer:
"Various components of the indicator are:
Dead Zone Line: Works as a filter for weak signals. Do not trade when the red or green histogram is below it.
Histograms:
- Red histogram shows the current down trend.
- Green histogram shows the current up trend.
- Sienna line shows the explosion in price up or down.
Signal for ENTER_BUY: All the following conditions must be met.
- Green histo is raising.
- Green histo above Explosion line.
- Explosion line raising.
- Both green histo and Explosion line above DeadZone line.
Signal for EXIT_BUY: Exit when green histo crosses below Explosion line.
Signal for ENTER_SELL: All the following conditions must be met.
- Red histo is raising.
- Red histo above Explosion line.
- Explosion line raising.
- Both red histo and Explosion line above DeadZone line.
Signal for EXIT_SELL: Exit when red histo crosses below Explosion line. "
