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Moving Average Convergence / Divergence (MACD)

Next Leg Up?Goldsource Mines has been on a clear uptrend over the past months. Every time it has had a new leg up it can be easily seen by a few inidications. 1. A broken Trendline 2. An oversold signal on the Stochastic RSI 3. A MACD crossover 4. Price meeting support at the 20MA or the bollinger bands. GXS has just shown all of these signs and is looking like it is ready for its next leg up. It is currently trading 14% away from the upper bollinger band and the stocks all time high. Keep in mind every other time is has had one of these moves it has broken the upper BB, so this is looking like a possible 14+ percent move.
GLong
by juniortrader
4
Climbing Higher with SilverA short term downtrend has been broken and there are several indications to buy. Volume has been increasing, MACD is showing it is about to cross, Stoch RSI is showing that the stock is not trading at an overbought level, and it is trading just above the 20 Day Moving Average which has been acting as a line of support/value for the past few months. Also with the recent rally of silver, this stock will climb even higher with its large silver mining projects in Peru having an estimated 290 million ounces in reserves.
TSXV:BCMLong
by juniortrader
5
GBP/USDThe Bulls has only won half the battle. MACD is neither an angel nor the devil. Same thing as usual, adjust your aperture and monitor the movement from there. If this cross is successful it should be worth 300-400pips on a 4h chart. You can set your profit target there. Once it hits, it will begin to go sideways as per what we are seeing on the hourly chart which is worth 150-200pips. Once target is hit the sideways retrace can be from 30-60% (fibo numbers). Based on this; if you are trading on an hourly chart and cannot take a 60pip retrace then that chart is not suitable for your trade.
by dericksim
1
HangSeng Index1st weekly target already hit, not very safe to enter now. Now is the time to wait patiently for RSI to retrace to 50 level before deciding on the next step. It is 21bars since the last MACD cross, if the retrace is deep, it might go down to meet the MACD (green circle); which I doubt so. Any thing beyond 23k is already pushing the envelope. For this chart, the best place to take profit would be RSI 70 (if it can reach). Sometimes, you refer to old charts and do not see RSI 70, this could be due to the long tails during intra candle.
H
by dericksim
USOIL1h chart has already produced 3 MACD dead cross, 1 wave usually have 3 to 5. Current support is highlighted by the red dash line. 1st target will be RSI(14) 50 level. As this is a downtrend, even if it manages to break above RSI 50, my target to take profit will be RSI 70. RSI does not have much room left for maneuver and there is a high chance the MACD gold cross will be higher than the previous one. The point to start worrying again will be when MACD goes above zero. Let's see how this pans out tonight.
FX:USOIL
by dericksim
USOILWTI is 34 bars since the last MACD cross and it is the last line of defense using MIDAS. It is about time for a rebound, rebound target would be RSI(14) 50 level which is about 46. At this level, it should produce a MACD gold cross as well. We have to be wary of this cross as a dead cross below is deadly and should bring us to the final target of RSI 30 level. I do not think the MIDAS will hold on daily as the retrace is happening on weekly chart. Hence a lower target of $40-41 is more probable which is the MIDAS support on weekly chart. Finally this rebound is best captured on the hourly chart.
FX:USOIL
by dericksim
Strong Short, Tronox Ltd.Very good short play on Tronox Ltd. This stock has broken its upwards trend posting a lower high after 4 higher highs in a row and it is at the top of the linear regression channel. TROX has bounced off of a resistance line and is experiencing decrease in volume. The MACD is also about to crossover to a sell signal and the Directional Movement Index is showing a downwards trend. Also, the stock is in oversold territory showing at 65 and is about to cross under the 9 Day MA.
NYSE:TROXShort
by juniortrader
USD/JPY Short Opportunity from StructureUSD/JPY is nearing a zone that could provide a good short opportunity -Price action is approaching resistance from a multi-month trend line that goes back to February. -As shown on the chart, there a previous structure zone where support turned into resistance. -The MACD and RSI is showing bearish divergence, with both reaching lower highs while price action hit higher highs. -After the strong price advance over the last several days, we may be seeing at least some retracement, or a continuation of the current downtrend.
Short
by samcco09