Symmetry is a guide (not a RULE) and we already made a lower
high and then a higher low - trade off support and resistance
especially when dealing with leveraged instruments - those demand
zones on SPX and QQQ were objective areas with stops below
secondary lows. Turned out to be Money
Yes the symmetry comment is something we have discussed many
times and I did in the educational video as well
after a symmetry break of an uptrend that has been going on for
a while, you generally get a lower high, that said you don't always
get a sell off for a lower low, sometimes you get a lower high,
then a pullback that forms a higher low (doesn't take out the last
low) and technically you had a lower high where symmetry played
out.
if the market goes back to the highs, you would have such a case
here, you technically did get a lower high and a nice pullback from
that to form a higher low
Symmetry is a guide (not
I need some help interpreting these perhaps conflicting charts. What ...
Posted by steve on 3rd of May 2024 at 12:31 pm
Symmetry is a guide (not a RULE) and we already made a lower high and then a higher low - trade off support and resistance especially when dealing with leveraged instruments - those demand zones on SPX and QQQ were objective areas with stops below secondary lows. Turned out to be Money
Yes the symmetry comment is
Posted by matt on 3rd of May 2024 at 12:34 pm
Yes the symmetry comment is something we have discussed many times and I did in the educational video as well
after a symmetry break of an uptrend that has been going on for a while, you generally get a lower high, that said you don't always get a sell off for a lower low, sometimes you get a lower high, then a pullback that forms a higher low (doesn't take out the last low) and technically you had a lower high where symmetry played out.
if the market goes back to the highs, you would have such a case here, you technically did get a lower high and a nice pullback from that to form a higher low
Ok. Thanks.
Posted by mdgfain on 3rd of May 2024 at 12:32 pm
Ok. Thanks.