Comment on Indicators (Part 2)

ashishsantikari commented on 21 Jul 2017, 10:29 PM

I have just started my trading experience. Being an amateur, I have made losses on intraday too much which put me to learn and practice before investing my hard earned money. I would advise newbie’s to go through varsity at least 3 times to get a good understanding of trading.

Now, coming to my question, I have some doubt while applying TA.
Today (21st July,17), Reliance made headlines after AGM. And that caused the company’s share to grow 3.67%.
Now for a newbie trader like me, I was applying my learning and the checklist posted at the end of this chapter to decide whether is this a good time to buy shares or not. Today’s candlestick was bullish marubuzo. RSI level is closed to overbought(75.87). Average Volume(10 points) is also way high than average which confirms buyers at every price point. Now S&R(using Pivot Points) tells me a different view and the closing price has crossed RL1 and RL2. Even MACD and (EMA 25 & EMA 25) indicates that the stock is good for purchase point of view.

Q1) What can be the possible outcome of the situation?
Q2) What is the difference between MACD and moving average crossover system?

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