daily and weekly chart for SPX
http://www.traders-t...?...ogid=26&st=
Edited by hiker, 01 September 2007 - 12:07 PM.
SPX - what distinguishes past fakeouts from breakouts
Started by
hiker
, Sep 01 2007 11:58 AM
1 reply to this topic
#1
hiker
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- TT Member*
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- 12,118 posts
independent trader
Posted 01 September 2007 - 11:58 AM
it has worked in the past....odds are it will work in the present:
daily and weekly chart for SPX
http://www.traders-t...?...ogid=26&st=
daily and weekly chart for SPX
http://www.traders-t...?...ogid=26&st=
#2
ogm
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- Traders-Talk User
- 13,780 posts
Member
Posted 01 September 2007 - 01:40 PM
Here is something I noticed looking at that chart...
Look how the price was acting around the mid-line BB. Basicaly it broke above it and held on the second attempt. And now that mid-line is curving upwards and acting as support.
ADX is dropping too, the previous trend (down) is weakening.
Another note.. Look at what levels the heavy volume changed hands. The price has floated above the heavy volume areas. A lot of support there.
This chart doesn't yell.. short me here. To me it says its getting some footing.
Look how the price was acting around the mid-line BB. Basicaly it broke above it and held on the second attempt. And now that mid-line is curving upwards and acting as support.
ADX is dropping too, the previous trend (down) is weakening.
Another note.. Look at what levels the heavy volume changed hands. The price has floated above the heavy volume areas. A lot of support there.
This chart doesn't yell.. short me here. To me it says its getting some footing.
Edited by ogm, 01 September 2007 - 01:46 PM.
