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This bear may have legs. Key time however as this is the 3rd time testing the low, so a sharp rebound any time before a decisive new low would mean the game is over for bears. Let's see if bears can finally make something.
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Waiting for reversal candle on ES. Fast and Furious Oversold bounce is coming soon, pretty good potential.
AAPL bears must break 419 decisively or else it's time for bulls to contest the support region again, crystal clear support vs resistance breakout levels.
fehro wrote:SPX 60m breaking down below 50 day SMA and channel.. target pink line, cyan channel, 200 SMA = 1504.19
Do you see a rebound at all, or just straight down?
Hard to say... a little bounce maybe 10m-15m after the open... then other support levels.. need to redraw lines on my 5m, 15m, 60m... but I'd say 1600ish seems reasonable short term (today, friday, monday).. will have a better idea in a hour or two
the open. it's a little too stretched, so might see a rebound first, then we'll see.
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A day like today, counter trend (buy) I will wait for RSI on hourly move back up above 30 before thinking of going in. I hope it will not be a flat day today. My RSI on hourly is reading at 25+ too weak yet, no wind.
My comments are for entertainment/educational purpose only. NOT a trade advice.
*corrected price again - seems to be an ongoing problem with me
Balls of steel, I wait until the smoke is clear for that reversal candle No more hero
Can you post picture of reversal candle? Thanks
Scroll up to my hourly chart see the price engulf/hammer bars breakout. You could also use 5min/15min chart for aggressive signal depending on the time frame of your plan.