breaking those support cycles yesterday was not good for the
market - remember that signals wave 3 like action, a break down,
just like when price breaks over resistance cycle is a trend
move
here's a link to a TradingView charts with various time frames
with the cycle
you can see on the 15 min SPY the break of that cycle support
yesterday and backest - basically support broken and backtested
confirmed as resistance
and here's a 5 min chart of ES this morning, right on the
opening bell price fell through that support cycle could have
jumped on short there as well
Cycles
Posted by matt on 24th of May 2023 at 10:58 am
breaking those support cycles yesterday was not good for the market - remember that signals wave 3 like action, a break down, just like when price breaks over resistance cycle is a trend move
here's a link to a TradingView charts with various time frames with the cycle
you can see on the 15 min SPY the break of that cycle support yesterday and backest - basically support broken and backtested confirmed as resistance
and here's a 5 min chart of ES this morning, right on the opening bell price fell through that support cycle could have jumped on short there as well
https://www.tradingview.com/chart/VsZGLmhx/