on a 120 min SPX chart notice the 60 Stochastic is nearing 50,
and the ATR is nearing 0%, those are inflection areas where price
either confirms a higher uptrend move or reverses back down from
that level. On the 60 min time frame 60 Stochastic crossed
50% but you would need a confirmation candle to confirm
remember as I stated most of the time those indicators actually
reverse from those ares vs confirming. We'll see, but the fact that
2900 is a big level, maybe it's a good area fro price to pull back
from
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comments
Posted by matt on 16th of May 2019 at 12:08 pm
on a 120 min SPX chart notice the 60 Stochastic is nearing 50, and the ATR is nearing 0%, those are inflection areas where price either confirms a higher uptrend move or reverses back down from that level. On the 60 min time frame 60 Stochastic crossed 50% but you would need a confirmation candle to confirm
remember as I stated most of the time those indicators actually reverse from those ares vs confirming. We'll see, but the fact that 2900 is a big level, maybe it's a good area fro price to pull back from