Quote from saliva:
Ya don't need MP to explain this IMHO. But I don't understand the HOD we touched at 807. Just how the hell did that came up? It makes no sense. My initial calculation was at 803. To say that it was simply due to the stops being mowed down doesn't go down very well with this noob.
Again, that in itself doesn't mean anything since it has no correlation with previous prices as far as S/R or TL is concerned. I could easily say 810 was a turning point just because 15 minute into the day 60 days ago there was a presence of very minor pivot.Quote from ammo:
810 on spx
was a top , a bottom then a top and now another top, tops and bottoms are usuallly accompanied by large volume ,enough to turn the mrkt,..if i were long there i woulld love to unload ...creating resistance..trading 101Quote from saliva:
Again, that in itself doesn't mean anything since it has no correlation with previous prices as far as S/R or TL is concerned. I could easily say 810 was a turning point just because 15 minute into the day 60 days ago there was a presence of very minor pivot.
Only reason why I brought this up is because I see these types of arbitrary price reversal quite often these days. Whatever the case may be, it must mean something.