Both are possible - with the SPX 5604 prior low pivot being key
- I warned on chasing early today as price rejected ES 5733/38 zone
(buying above old highs)
yeah I can see that, but it's also probably a 5 of some sort,
could be a 5 of 3, because of the simple fact that you have MACD
divergence
wave 5's always have MACD divergence, or almost always do,
whereas wave 3's do not - that's one way I can tell on a given time
frame if it's likely a 5 or a 3.
again it's all fractal - you might have a 5 on a smaller time
frame along with your MACD divergence, but then a wave 3 on a
higher time frame with no MACD div
and not shooting the messenger, just using that as an
educational tidbit for others regarding the MACD divergence and
wave 5's
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Update: SPX and QQQ wave v
SPX and QQQ wave v
Posted by matt on 17th of Sep 2024 at 12:22 pm
$SPX - Chart Link- added a trendline on RSI to use as a trigger
$SPX - Chart Link-
QQQ - Chart Link-
Here's a slightly different take
Posted by bthefnd on 17th of Sep 2024 at 12:28 pm
Here's a slightly different take on the 15 min timeframe (1st chart). Second chart is 2 hour.
Don't shoot the messenger - I'm just passing on someone else's info / algo results.
Both are possible - with
Posted by steve on 17th of Sep 2024 at 12:36 pm
Both are possible - with the SPX 5604 prior low pivot being key - I warned on chasing early today as price rejected ES 5733/38 zone (buying above old highs)
SPX is only at the
Posted by bthefnd on 17th of Sep 2024 at 12:38 pm
SPX is only at the 7th green daily candle in a row. Feels like 20 for some reason
LOL - that's because August
Posted by steve on 17th of Sep 2024 at 12:43 pm
LOL - that's because August was only a short time ago which seemingly had around 20 up candles
yeah I can see that,
Posted by matt on 17th of Sep 2024 at 12:32 pm
yeah I can see that, but it's also probably a 5 of some sort, could be a 5 of 3, because of the simple fact that you have MACD divergence
wave 5's always have MACD divergence, or almost always do, whereas wave 3's do not - that's one way I can tell on a given time frame if it's likely a 5 or a 3.
again it's all fractal - you might have a 5 on a smaller time frame along with your MACD divergence, but then a wave 3 on a higher time frame with no MACD div
and not shooting the messenger, just using that as an educational tidbit for others regarding the MACD divergence and wave 5's