yes symmetry move would be 2900 (exact would be 2893 but rounded
to 2900), then 61.8% Fib. Remember those areas are either hit or
not. They are just potential target areas, and let's call
them normal target areas in ABC type patterns.
Posted by jimmytheshoer on 17th of Apr 2020 at 10:33 am
I'm likely one of, if not, the oldest trader here at 66 and have
long used the industry standard of the 17 month MA. That currently
stands at 2900.36, so if we used that benchmark along with the
61.8% retrace at 2934.49 along with this symmetry move of Matt's at
2893 I think we can all agree there is a strong headwind just
ahead.
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SPX tagged the 50 MA
Posted by matt on 17th of Apr 2020 at 09:54 am
$SPX - Chart Link - tagged the 50 MA which was a target, next target would be the 61.8% Fib,
Makes sense but most supply
Posted by arun on 17th of Apr 2020 at 10:25 am
Makes sense but most supply is SPX3020 and i wont be surprised if that hits - remember pain trade
Or symmetry @ 2900 ?
Posted by retirefire on 17th of Apr 2020 at 09:58 am
Or symmetry @ 2900 ?
yes symmetry move would be
Posted by matt on 17th of Apr 2020 at 10:17 am
yes symmetry move would be 2900 (exact would be 2893 but rounded to 2900), then 61.8% Fib. Remember those areas are either hit or not. They are just potential target areas, and let's call them normal target areas in ABC type patterns.
I'm likely one of, if
Posted by jimmytheshoer on 17th of Apr 2020 at 10:33 am
I'm likely one of, if not, the oldest trader here at 66 and have long used the industry standard of the 17 month MA. That currently stands at 2900.36, so if we used that benchmark along with the 61.8% retrace at 2934.49 along with this symmetry move of Matt's at 2893 I think we can all agree there is a strong headwind just ahead.