I have some ideas, but also one thing around FOMC days, you
always gotta give it another day because there have been many times
in the past when price reversed the next day.
But otherwise we are in that bullish time of yet and if this
move extends, then we simply go higher again in the 5th wave, some
targets to the upside would be the pivot at 1828, and there's also
one at 1876. Remember also per the tutorial method - for the
bull case price should not retrace more than 50% of today's candle
over the next couple of days as that would be bearish, but if it
holds above 50% of the candle then that's a positive.
OPEX is also on Friday and the market has a tendency to have
inflections around this time,
here's some simple charts
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Can't wait to hear your
SPY system trade status and notification
Posted by hirahara on 18th of Dec 2013 at 09:33 pm
Can't wait to hear your opinion on where we are heading next!
I have some ideas, but
Posted by matt on 18th of Dec 2013 at 09:54 pm
I have some ideas, but also one thing around FOMC days, you always gotta give it another day because there have been many times in the past when price reversed the next day.
But otherwise we are in that bullish time of yet and if this move extends, then we simply go higher again in the 5th wave, some targets to the upside would be the pivot at 1828, and there's also one at 1876. Remember also per the tutorial method - for the bull case price should not retrace more than 50% of today's candle over the next couple of days as that would be bearish, but if it holds above 50% of the candle then that's a positive.
OPEX is also on Friday and the market has a tendency to have inflections around this time, here's some simple charts