Junkie..I find it's best to remain in the trend until evidence
changes on the time frame you're trading. For now the SPX has
trendline, then 1973 and 1956 pivots below which related to some
prior symmetry moves down. A break of this area opens the door to
something more substantial. Lastly, it's fine to prune some
profits along the way in accordance with your objectives.
The bulls hope would be that a triangle is nearing completion
(again must see a strong reversal as stated above).
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How much downside are you
SPX 15
Posted by junkie on 29th of Jan 2015 at 08:09 am
How much downside are you referring to: 30 points or 300 points?
Junkie..I find it's best to
Posted by steve on 29th of Jan 2015 at 08:16 am
Junkie..I find it's best to remain in the trend until evidence changes on the time frame you're trading. For now the SPX has trendline, then 1973 and 1956 pivots below which related to some prior symmetry moves down. A break of this area opens the door to something more substantial. Lastly, it's fine to prune some profits along the way in accordance with your objectives.
The bulls hope would be that a triangle is nearing completion (again must see a strong reversal as stated above).