Posted by varmercur on 14th of Mar 2018 at 02:21 pm
Hi Matt & Steve!
There's an interesting tilted horizontal line in the 15 min SPX
chart that seems to be important to the price. Do you have any
theories on what that might represent? I haven't noticed to many of
those before. It starts at roughly 2768 in mid Feb, and is
currently around 2745.
The ABC wave count is hypothetical. Looks like a possible
cup'n'handle since early Feb.
Posted by varmercur on 14th of Mar 2018 at 03:12 pm
I updated the chart and colored the line I'm referring to with
pink color. You can see how price is attracted towards it again and
again - but in three instances it's like it bounces of it's
invisible "magnetic shield" or something. As the line is descending
from above and not based on historical prices above - I struggle to
find a plausible reason for it's apparent significance.
Tilted horizontal line SPX
Posted by varmercur on 14th of Mar 2018 at 02:21 pm
Hi Matt & Steve!
There's an interesting tilted horizontal line in the 15 min SPX chart that seems to be important to the price. Do you have any theories on what that might represent? I haven't noticed to many of those before. It starts at roughly 2768 in mid Feb, and is currently around 2745.
The ABC wave count is hypothetical. Looks like a possible cup'n'handle since early Feb.
Chart
thx for sharing your chart
Posted by matt on 14th of Mar 2018 at 02:35 pm
thx for sharing your chart and I compliment you on your use of symmetry! Otherwise yes the trendline you have there is a potential support.
Thanks Matt! Do you have
Posted by varmercur on 14th of Mar 2018 at 02:58 pm
Thanks Matt! Do you have any theory on what that horizontal line represents in a theory framework - or let's say just pragmatic thinking?
not sure what line you
Posted by matt on 14th of Mar 2018 at 03:05 pm
not sure what line you are referring to, I see a horizontal line at the 61.8 Fib on your chart, but otherwise I'm not sure what you are referring to.
I updated the chart and
Posted by varmercur on 14th of Mar 2018 at 03:12 pm
I updated the chart and colored the line I'm referring to with pink color. You can see how price is attracted towards it again and again - but in three instances it's like it bounces of it's invisible "magnetic shield" or something. As the line is descending from above and not based on historical prices above - I struggle to find a plausible reason for it's apparent significance.
IDK man, it's hard to
Posted by matt on 14th of Mar 2018 at 03:34 pm
IDK man, it's hard to say, I suppose it's valid, I extend trendlines out all the time, anyway I will be leaving shortly and have to focus here