(Video) Top 3 Technical Tools Part 3: MACD
May 1, 2013 9:38 pmVideo
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- EUR/USD: trading tips for beginners for European session on April 16 April 16, 2024
Jeffrey Kennedy is an accomplished teacher and a Senior Analyst here at EWI. Yet he often says that the Wave Principle alone is not a trading methodology. It does not tell you how much trading capital you can afford to risk, or specific guidance about which entry or exit levels are best suited for your trading style or where to set your protective stop.
Kennedy also says that along with risk management and emotional discipline, the right technical tools are a vitally important part of supporting your wave count.
To enhance trading confidence, Jeffrey’s 3 favorite technical
tools are Japanese candlesticks, RSI, and MACD. (read Part
1 on Japanese Candlesticks and Part 2 on RSI ). Today’s
lesson shows you how MACD can help identify trading opportunities
with an example from USDCAD.
This 2-minute video and overview of MACD are adapted from Jeffrey’s Elliott Wave Junctures educational service (which empowers subscribers with information on nearly every aspect of trading. Try it risk-free for 30-days >> ).
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You’ll learn which technical indicators are best for analyzing chart patterns, which are best for anticipating price action, and which are best for spotting high-confidence trade setups. You’ll also learn how technical indicators can be used to complement Elliott wave and other technical methods.
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