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I don't follow EW and I don't set targets. I trade what I see and I see no reason to go short at the moment. 2000 is too high I reckon but I've been wrong many times in picking up the top so I'm not calling tops anymore.
I couldn't find anything in your profile about your tl technique, but I did follow the link to channels and patterns and I assume your long term tl's are similar to his.
His target is 1965-1985 on SPX which I disagree. His channel technique is similar to mine but there are sometimes fundamental differences in terms of plotting the channels. He also looks into patterns and puts targets according to patterns. I only do channels, resistances and supports. My profile is on the charts and I'm trying to put enough narrative to explain it. I think if you see all charts in the last 2-3 months, you will get it.
Hi,
ReplyDeleteTechnically this rally should be over. But not sure what's driving this rally. From EW point of view I see 2000+ levels of all time high.
Please share thoughts.
I don't follow EW and I don't set targets. I trade what I see and I see no reason to go short at the moment. 2000 is too high I reckon but I've been wrong many times in picking up the top so I'm not calling tops anymore.
ReplyDeleteThe red line on Spx where does it start? How major of a resistance line is it?
ReplyDeleteIt's in the weekend post from Sunday.
ReplyDeleteHi bouraq
ReplyDeleteI couldn't find anything in your profile about your tl technique, but I did follow the link to channels and patterns and I assume your long term tl's are similar to his.
re tops, Usually a lower low is bad after a long uptrend. Sets up the neg div in the weekly macd.
ReplyDeleteHis target is 1965-1985 on SPX which I disagree. His channel technique is similar to mine but there are sometimes fundamental differences in terms of plotting the channels. He also looks into patterns and puts targets according to patterns. I only do channels, resistances and supports.
ReplyDeleteMy profile is on the charts and I'm trying to put enough narrative to explain it. I think if you see all charts in the last 2-3 months, you will get it.