Posted by cape_rover on 8th of Apr 2018 at 01:45 am
I’m no expert but I don’t believe that formation meets the
increased volume requirement of an island reversal. Your
chart does make me wonder if The SPY daily trading range will
resolve in an island bottom. However, Since the current
daily island has formed over the last 11 trading sessions
rather than a couple of trading session it may also be invalid or
it could be marking an intermediate trend reversal rather than a
short term trend reversal. Just throwing a thought out there.
I appreciate your chat.
Nice Island Top on $SPX
Posted by elliotw on 7th of Apr 2018 at 10:41 pm
Nice Island Top on $SPX 60 min played out this week
I’m no expert but I
Posted by cape_rover on 8th of Apr 2018 at 01:45 am
I’m no expert but I don’t believe that formation meets the increased volume requirement of an island reversal. Your chart does make me wonder if The SPY daily trading range will resolve in an island bottom. However, Since the current daily island has formed over the last 11 trading sessions rather than a couple of trading session it may also be invalid or it could be marking an intermediate trend reversal rather than a short term trend reversal. Just throwing a thought out there. I appreciate your chat.
$SPX island top certainly played
Posted by elliotw on 8th of Apr 2018 at 05:52 am
$SPX island top certainly played out mid March as the bearish rising wedge broke down. See if we get a breakaway gap up Monday, or continuation down.