Picking up what your putting down with regard to the sp & it’s relationship with the upper bollinger band. For sure. Thankyou.
I don’t know what to make of the MACDs when you change the timeframes however...
Given that the two charts are from the same point in time, the indicators tell (me, through the lens of a beginner) a different story when you change from 4hr samples (top) to 1 day samples (bottom). The 4 hr chart shows a meeting of the averages, indicating a trend reversal, yet the 1 day shows the fast average still clear of the slow, indicating a continuing trend (from what I understand).
Am I to interpret this as;
A reversal, or at least a slowing, of an upward trend appearing in the 4hr MACDs, that is yet to appear in the 1d chart?
Can I use the 1d charts’ MACDs to infer that the reversal isn’t of much conviction?
Could the SP hovering in the upper ranges of the Bollinger band be interpreted as adding weight to the potential change in sentiment inferred in the 4hr MACDs?
Please excuse me for asking, please tell me if I’m waaay off the mark & I do understand this isn’t a TA class
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