there is a symmetry break noted here via my symmetry indicator
on the SPX 60 min chart, pullback of 22 points larger than the last
one of 18.4. So we'll see, Still will discuss some options tonight,
tomorrow may be a key technical day.
Hi matt i am curios why not use % for symmetry break instead of
whole numbers? For example Is not the same % a $30 break from 2,400
than a $35 break (symmetry break) from 2,550. The $30 break is
higher in % terms.
I personally round symmetry that indicator is a beta version
didn't bother doing any of that. However symmetry for
symmetry break there's a little art to it like anything in TA.
If a move was 3.66 points and another move was 3.7 points,
would I call that a break in symmetry, NO. I'd generally like
to see a move of say 4 or 5 points. However your example of
SPX 2450, rounding to nearest 50 points is nuts. Again it's
all relative to the time frame you are following as well. On
a daily chart if the SPX had 20 point pullbacks - then I might
count 25 poitns as enough for a sym break. On a fast 3 min
intra day chart, if the largest bounces intra day were 3 points,
then I'd count a 4 point bounce as a symmetry break, it's all
relative and that's why I said it's more common sense and
feel.
SPX 60 min
Posted by matt on 11th of May 2017 at 04:40 pm
there is a symmetry break noted here via my symmetry indicator on the SPX 60 min chart, pullback of 22 points larger than the last one of 18.4. So we'll see, Still will discuss some options tonight, tomorrow may be a key technical day.
keep an eye on the USDJPY of course
Hi matt i am curios
Posted by cuqui69 on 12th of May 2017 at 07:06 am
Hi matt i am curios why not use % for symmetry break instead of whole numbers? For example Is not the same % a $30 break from 2,400 than a $35 break (symmetry break) from 2,550. The $30 break is higher in % terms.
just some comment will be apreciated it.
regards
I personally round symmetry that
Posted by matt on 12th of May 2017 at 10:43 am
I personally round symmetry that indicator is a beta version didn't bother doing any of that. However symmetry for symmetry break there's a little art to it like anything in TA. If a move was 3.66 points and another move was 3.7 points, would I call that a break in symmetry, NO. I'd generally like to see a move of say 4 or 5 points. However your example of SPX 2450, rounding to nearest 50 points is nuts. Again it's all relative to the time frame you are following as well. On a daily chart if the SPX had 20 point pullbacks - then I might count 25 poitns as enough for a sym break. On a fast 3 min intra day chart, if the largest bounces intra day were 3 points, then I'd count a 4 point bounce as a symmetry break, it's all relative and that's why I said it's more common sense and feel.
Ok, thanks for your comments
Posted by cuqui69 on 12th of May 2017 at 01:54 pm
Ok, thanks for your comments