The last Bullish divergence turns out to be a sucess one, I will close out my position some time before the close, trading flat around here tells me that the pros are eyeing the max pain target of 134.00.
two hours to go yet let see what the market intension is today.
My comments are for entertainment/educational purpose only. NOT a trade advice.
ok, perfect target, now small pullback, but I think there should be more push up after that. the bigger picture, I think this rebound eventually will fail, we'll see.
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yoku wrote:the market is kinda lack of power.
my script,
1. dip from current-1325 level (off if go directly over 1326)
2. dip below 1320.5 (off if break day low)
3. back up to take 1326
yes i am drawing a rhs
rejected at 1326 at this moment. also triggered my stop. will watch for a while, but i think the rebound is not over yet.
The goal is not uniformity. It is understanding and idea exchange.
Cobra wrote:ok, perfect target, now small pullback, but I think there should be more push up after that. the bigger picture, I think this rebound eventually will fail, we'll see.
i have a similar channel. the middle of the channel also in play.
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2011-05-17_1415.png (22.38 KiB) Viewed 8532 times
The goal is not uniformity. It is understanding and idea exchange.
Cobra wrote:ok, perfect target, now small pullback, but I think there should be more push up after that. the bigger picture, I think this rebound eventually will fail, we'll see.
the run up is weak, RSI not touching 70 the whole day. (RSI50, 1min.) both two decent runs.
My comments are for entertainment/educational purpose only. NOT a trade advice.
uempel wrote:Looks like SPX will break red Fib Fans and go to the overhead blue line at 1328/1330:
SPXM.png
Nice now you got your fib fan align to mine I feel better, great chart.
Thank you, but I presumed the Fib Fan might be broken and SPX would move up to the blue line. So far I'm wrong and now it looks as though SPX has lost its bullish lust...
uempel wrote:Looks like SPX will break red Fib Fans and go to the overhead blue line at 1328/1330:
SPXM.png
Nice now you got your fib fan align to mine I feel better, great chart.
Thank you, but I presumed the Fib Fan might be broken and SPX would move up to the blue line. So far I'm wrong and now it looks as though SPX has lost its bullish lust...
I will not discount the bullishness until 1min. 200ma breached then bears will rock on.
My comments are for entertainment/educational purpose only. NOT a trade advice.
ideally, this rebound should at least test the previous high forming a higher high but it's not mandatory as it could fail at any time. Let's wait and see.
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2 bar reversal, chances are high that the previous high will be tested at least.
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