Simplicity in TA
- Thread starter Xspurt
- Start date
I was expecting a bounce there too.
On the way down this was the next place it could stop. A high from June 2010 was my reason. (edit: fwiw: this was the mid level of S1 and S2 daily pivots also, but I don't use that)
A plateau support zone on the monthly.
SPX futures poised to break to ~1295/1290 at minimum within days.
EUR-USD Monthly
The key area is approaching.
The key area is approaching.
EUR/USD Revisit of Daily Wedge
The stop run hunt that I was expecting below wedge support line has begun so I am now ready to start looking for my long signal.
Monthly potential right shoulder confluence (for reaction) is getting closer and closer.
Plan is to constantly catch 1min signals with small risk using two targets, an aggressive one, neutralize risk and a runner for the potential monthly reaction.
It is important to notice that I am not calling for a bottom just adapting to the potential monthly support areas by allowing part of the scalps runners to become swings and be able to exploit any major countertrend move.
It will a long battle but the battlezone is here.
The stop run hunt that I was expecting below wedge support line has begun so I am now ready to start looking for my long signal.
Monthly potential right shoulder confluence (for reaction) is getting closer and closer.
Plan is to constantly catch 1min signals with small risk using two targets, an aggressive one, neutralize risk and a runner for the potential monthly reaction.
It is important to notice that I am not calling for a bottom just adapting to the potential monthly support areas by allowing part of the scalps runners to become swings and be able to exploit any major countertrend move.
It will a long battle but the battlezone is here.
Here's the previous post detailing what I was expecting to see before looking for the main long signal.