EOD stands for End of day. This is the most powerful technic in technical analysis of index, Forex, commodity, stocks etc. This shows the trend of stocks or index and what traders are doing. Find simple trick for Day trading, Option trading, positional trading and Mutual fund entry exit time (for software professional, House wife or working professional) in last paragraph of this page to earn lifelong. This is only for education purpose.
This chart can also be used to predict mutual fund growth, entry and exit time. Mutual fund money is invested in the market, so its growth depends upon market trend. Use EOD, weekly and monthly interval in this chart to predict the upward or downward trend of market for 3-6 month. Thus you can know the entry and exit time for your market linked mutual fund and save money from market turmoil.
Simple Trading strategy
In below Technical chart change Bar’s style(find in last Drop down in the chart Header where ‘Save chart’ is written) from “Candlestick pattern” to “Heikin Ashi” pattern to know what operators are doing, buying or selling? Use “Heikin Ashi” pattern and “Stochastic(3rd section)” to trade more accurately. Stochastic below 20 is your buying point and above 80 is your exit point.
In the chart 1st section is called candlestick pattern. In this part price moves in a closed boundary that is called lower and upper Bollinger band. Watch when price touches any of the boundary trend reversal occurs. So Bollinger boundary gives us limit of price movement and trend reversal point. Use LIVE CHART section to study technical chart and uses of MACD, Moving averages, STOCHASTIC and BOLLINGER BAND.
Moving averages like short term and long term moving averages are used in technical charts to determine trend. Two lines crossing each other inside Bollinger bands are called moving average. When short term moving average line cross long term moving averages upward, trend becomes bullish and incase of downward cross trend becomes bearish. So this gives trend. MACD-moving average convergence divergence. This is the crossover of short and long term moving averages. Watch and compare MACD with candle stick direction in 1st section, when cross over takes place in upward direction in MACD, stock moves upward and in reverse stock moves downward. Also watch the buy volume and sell volume bar in MACD increases and decreases with stock movement in bullish and bearish trend.
Last section is called stochastic. It shows the overbought and over sold zone. When stochastic is below 30, it is called over sold zone and any time buyer can take control and stock may move upward. When stochastic is above 70 levels then this is called over bought zone and any time selling pressure or profit booking may come. Study these 3 sections and compare with each other to get clear trend of stock. Paper or do virtual trade to practice .Learn candlestick pattern and use with technical analysis to get better result.