the move from Dec 22nd is just choppy overlappy abc stuff.
that's also validated by the 60 min cycle indicator - note how
well price has been oscillating between support and resistance
cycles. Once it breaks out of this range, you will see a trendling
move.
when price respects the cycle indicator that many times, it
tells you that it's all abc, abc consolidation waves - see 2nd
image, in the middle
Posted by kevindeng0727 on 3rd of Jan 2023 at 11:30 am
Matt, what's your preferred count for this abc? a small wave 4
before a lower low & bigger bounce, or a wave 2 and we start
trending strongly down. Thanks
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SPX comments
Posted by matt on 3rd of Jan 2023 at 11:27 am
the move from Dec 22nd is just choppy overlappy abc stuff.
that's also validated by the 60 min cycle indicator - note how well price has been oscillating between support and resistance cycles. Once it breaks out of this range, you will see a trendling move.
when price respects the cycle indicator that many times, it tells you that it's all abc, abc consolidation waves - see 2nd image, in the middle
Matt, what's your preferred count
Posted by kevindeng0727 on 3rd of Jan 2023 at 11:30 am
Matt, what's your preferred count for this abc? a small wave 4 before a lower low & bigger bounce, or a wave 2 and we start trending strongly down. Thanks