Posted by DigiNomad on 19th of Sep 2023 at 12:56 pm
I drew those lines a long time ago (at least a week). I don't
think it's a coincidence that we stopped right on them and battled
for a few candles, but everyone draws there charts a little bit
different (which is why I find it necessary to give stops a LOT of
extra room)
exactly my point - slight break of a trendline to me is non
confirmation - it's a zone +/- some wiggle room. To me it's not
enough of a break to confirm anything and in fact that's where you
tend to get headfakes and reversals with amateur sellers shorting
that only to get trapped
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no not yet technically, I
SPX - definitely broke through the bottom of the triangle...but ...
Posted by matt on 19th of Sep 2023 at 12:54 pm
no not yet technically, I just posted the chart. The QQQ are slightly below their coil trendline but only slightly and into that demand zone again
with FOMC tomorrow I doubt we'll see just a straight continued sell off until that meeting, maybe get a bounce soon and chop around before the meeting
Perfect: as I stated earlier
Posted by matt on 19th of Sep 2023 at 03:07 pm
Perfect: as I stated earlier BEFORE the bounce off the lows - did exactly what I suggested - bounced hard off the lows
with FOMC tomorrow I doubt we'll see just a straight continued sell off until that meeting, maybe get a bounce soon and chop around before the meeting
I drew those lines a
Posted by DigiNomad on 19th of Sep 2023 at 12:56 pm
I drew those lines a long time ago (at least a week). I don't think it's a coincidence that we stopped right on them and battled for a few candles, but everyone draws there charts a little bit different (which is why I find it necessary to give stops a LOT of extra room)
exactly my point - slight
Posted by matt on 19th of Sep 2023 at 12:58 pm
exactly my point - slight break of a trendline to me is non confirmation - it's a zone +/- some wiggle room. To me it's not enough of a break to confirm anything and in fact that's where you tend to get headfakes and reversals with amateur sellers shorting that only to get trapped