Weekly macd turns down at the zero mark and the pattern resembles a continuation of the fall, the last speculative one, the 5th down.
Daily macd turns down below the trigger and in the negative zone. A fall below 1140 will result in breaking of the triangle pattern towards/below the earlier lows. A rise above 1350 will be bullish.
Hourly shows the last upward channel breaking down and then pulling back towards the channel & fall resuming. This fall has impulsive 5 sub waves. A move below 1200 will accelerate the fall. If any + ve cues, it can rally back upto 1320 and then may resume the downmoves.
It is a sell on rallies upto 1320 with a SL 1350. Watch its price behaviour around 1140 area.
Daily macd turns down below the trigger and in the negative zone. A fall below 1140 will result in breaking of the triangle pattern towards/below the earlier lows. A rise above 1350 will be bullish.
Hourly shows the last upward channel breaking down and then pulling back towards the channel & fall resuming. This fall has impulsive 5 sub waves. A move below 1200 will accelerate the fall. If any + ve cues, it can rally back upto 1320 and then may resume the downmoves.
It is a sell on rallies upto 1320 with a SL 1350. Watch its price behaviour around 1140 area.
3 comments:
good work. Better if you can incorporate time( date) also on X-axis. What are the charts showing on left side of image. How to interpret macd
vijay
hi,
could you tell from where do we calculate wave following a triangle,i mean suppose we are having a triangle in 4th wave then 5th wave will start after b-d line is broken or from end of e wave in a triangle.
Regards
Hi meet,
If b-d line breaks, you start counting the waves from the "e" wave downwards.
Best regards.
ilango
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