ALWAYS BET ON BLACK - Update 18

MOMENTUM INDICATORS TRENDING POSITIVE 30 MIN CHARTS

This time we will use MACD indicators to further analyze the current situation and a potential reversal of patterns.

MACD = Moving Average Convergence Divergence

Watch these two videos for a quick how to:

Part1 http://www.youtube.com/watch?v=k9nds4OpA2I

Part2 http://www.youtube.com/watch?v=XCcg7a1XR2E

From our previous analysis the charts showed us an uptrend which has broken through some resistance trend lines and it appears to be the beginning of a new trend. Further confirmation of this situation can be observed in the trends of the MACD indicator which appear to have moved outside of a downward momentum trend.

In the chart below we are looking at the DOWNTREND Fibonacci fan + UPTREND Fibonacci fan + Fibonacci retracement lines. Currently we have:

A. Price is challenging the 2nd resistance line in the downtrend

B. Price is challenging the 2nd resistance line in the uptrend

C. Price is challenging the 0% retracement of the Fibonacci lines

D. In the 30 minute chart MACD trending has broken a negative slope (loss of momentum) indicating a possible reversal of the down trend.

These all are very positive and I think we will remain in these conditions and continue to improve with some consolidation (retracement) before we can decidedly move to the upside.

Remember that we still need to break through the downtrend resistance lines 3 and 4 and also get out of the 0% 29.5K to see a jump to the upside. Until then we could still be trapped in the downward trend..

Dont forget to look at Risk Reward ration.

Buy-Black