here's the time frames with the cycles on them. The daily cycle
been pretty good the buy from over 2 weeks ago. As I mentioned on
the weekend there's potential for a sell cycle BUT, price needs a
reversal lower to confirm i.e. a candle confirmation.
On the 195 min chart, notice how price found support at the
resistance cycle last week - that's the same as former resistance
acting as support, it's the way to think about that.
This morning we got a buy cycle on the open on the 120 min
The buy cycle on the 60 min early last week clearly played out.
we had resistance cycles on the 30 min and 15 min last week but
notice how price blew through those - that is not a failure of that
indicator -remember to think about that as a breakout. When price
breaks through a cycle resistance strongly, it's a breakout
move
updated view, had a cycle sell show up just about 2 hrs ago on
the 60 min, bottom left. On the 30 min you can see there was a nice
doji candle there where price was extended, that could have been an
intra day short trigger
SPX Cycles follow up
Posted by matt on 16th of Nov 2020 at 11:02 am
here's the time frames with the cycles on them. The daily cycle been pretty good the buy from over 2 weeks ago. As I mentioned on the weekend there's potential for a sell cycle BUT, price needs a reversal lower to confirm i.e. a candle confirmation.
On the 195 min chart, notice how price found support at the resistance cycle last week - that's the same as former resistance acting as support, it's the way to think about that.
This morning we got a buy cycle on the open on the 120 min
The buy cycle on the 60 min early last week clearly played out.
we had resistance cycles on the 30 min and 15 min last week but notice how price blew through those - that is not a failure of that indicator -remember to think about that as a breakout. When price breaks through a cycle resistance strongly, it's a breakout move
updated view, had a cycle
Posted by matt on 16th of Nov 2020 at 12:58 pm
updated view, had a cycle sell show up just about 2 hrs ago on the 60 min, bottom left. On the 30 min you can see there was a nice doji candle there where price was extended, that could have been an intra day short trigger
Matt, Did we get a
Posted by dzurek2 on 16th of Nov 2020 at 01:39 pm
Matt, Did we get a new 120 DVT today ?