SPX500: DT MTR OR A SUCCESSFUL NEW ALL-TIME HIGH...?
870
1. BX 2. 2Legged bear channel break UTL=DB w/ April 7 Low 3. Strong Leg up to testing 'BX'
4. Will this lead to the all-time high...? Will this be sold fiercely from test of 'BX'...?
5. The leg up(green) from the DB= very stong rally = High odds are that PBs could be bought immediately.
Should this fail, then selloff could be fierce!
Definitions _______________________________________________________________________________________________________________________________________________________________________________ UTL=UpTrendline = A line from the Lowest Low, upward and to the highest minor low point preceding the Highest High so that the line does not pass through prices in between these two points. DTL=DownTrendline = A line from the highest high point downward to the lowest minor high point preceding the lowest low so that the line does not pass through prices in between these two high points. SX/BX =Sell Climax/Buy Climax BO=Breakout BOL=Breakout limit (Determined when price seize to make a new high/low in 5 bars since the last high/low following the initial rally/selloff after TL BO) LH MTR = Lower High Major Trend Reversal = Leg up following the 'BOL' gets close to 'BX' HH MTR=Higher High Major Trend Reversal = Leg up following the 'BOL' exceeds 'BX' LLMTR = Lower Low Major Trend Reversal = Leg down following the 'BOL' exceeds 'SX' HL MTR= Higher Low Major Trend Reversal =Legdown following the 'BOL' only gets close to 'SX' TR = Trading Range (Tradable legs implied) _________________________________________________________________________________________________________________________________________________________________________ The Logic 1. Trend trading until the weight of evidence tells of the absence of the trend. 2. And to trade the potential legs within the trading range, when price finally breaks the trendline, and enters into a tradable trading range, until there's a trading range breakout- continuation or reversal.
23 DAYS AGO....
Updating........
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Never fight a strong leg. Find reasons to join whenever possible ^_^
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Last wee I said....... The leg up(green) from the DB= very stong rally = High odds are that PBs could be bought immediately. And Indeed the bulls bought the PBs immediately.
In this update, I illustrate the tight TR=Bull flag in which we're presently. And I believe that the bulls might carry this market beyond the BX pretty soon, regarding the underlying buying pressure. Now, if that happens, a Measured Move , based on the height of the TR would carry price way above the All-time high. TR occuring in late trends are often times final flags. And so, I believe that the market might be shortlived above the all-time high and pullback fast into the TR once more.
A close below MA wud be interesting though. Im still holding long. Stop @ 2106.6 Good buy here, if u're not in w/ me from the lows, I guess. Stop below MA Kul. s3.amazonaws.com/tradingview/snapshots/d/d5NiVo1x.png
I think the bears entered, but they've work to do to cvonvince us. Buy Zone. Swing stop below lows. Aggressive stop to be deermined at a good signal for long if.... s3.amazonaws.com/tradingview/snapshots/5/5rky1k7c.png
Luks bulls stepped in on buyzone Luks buy; luks sell. Im sitting on ma hands for now But that quick rise up also luks that was a PB for the bears Interesting! I think Yellen is speaking now I sensed it from the disturbance in price action
Confluence of measure moves s3.amazonaws.com/tradingview/snapshots/o/OeoZZzjE.png careful here....trend cud changewe might deep pull to MA priorbears rearing ugly heads here, I feel it....I might add to long if i see my signal
SPX500: Projecting 2124.08 Should we successfully take out the high of today so far. Otherwise, today luks a TR day so far. We hava wedge bottom ongoing on 5mins s3.amazonaws.com/tradingview/snapshots/m/mZl9IGnH.png
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لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.