Hi Steve, Just wonder how you rationalize the lower trend line
as it has only one touch? I suppose you use symmetry but if so, how
do you estimate the angle of the lower trend line? I would have
drawn it like the blue line in mine chart. Your line in
red.
lebow...the SPX chart below illustrates what a ending diagonal
would look like 'should the pullback hold around these levels."
It is simply a hypothetical pattern to watch an not a valid
trendline at this time. A break below 1800 would likely
negate this view and point to more downside action.
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Title: Lesson Hi Steve, Just wonder
SPX Daily Views
Posted by lebow on 12th of Apr 2014 at 05:11 am
Hi Steve, Just wonder how you rationalize the lower trend line as it has only one touch? I suppose you use symmetry but if so, how do you estimate the angle of the lower trend line? I would have drawn it like the blue line in mine chart. Your line in red.
lebow...the SPX chart below illustrates
Posted by steve on 12th of Apr 2014 at 01:54 pm
lebow...the SPX chart below illustrates what a ending diagonal would look like 'should the pullback hold around these levels." It is simply a hypothetical pattern to watch an not a valid trendline at this time. A break below 1800 would likely negate this view and point to more downside action.