SPY weekly trend analysis
I saw an idea from DRCRYPTOSTOCK. See the linked idea below.
His idea is one of the good prediction. Here, I added little more explanations based on his idea.
TLB: Trend line break. See TLB1, TLB2, TLB3, TLB4
Once uptend line is broken, the support line became resistance.
Re-testing these broken trend lines provide short opportunities.
To Verify the end of down trend: close price above the trend line.
TLB3 pushed the price down in one week. But it didn't push the price down too far.
TLB4 pushed the price down in past 2 weeks. It worked perfectly already.
In Next 2 weeks,
If close above this trend line. Down trend is done. (V reversal, this is the most strong revesal patten.)
or
If close below this trend line. we are still in down trend.
222 will be the 3rd touch of next uptrend line (TL5). If price could back from here, it will be double bottm.
If TLB5, Next target is 200.
His idea is one of the good prediction. Here, I added little more explanations based on his idea.
TLB: Trend line break. See TLB1, TLB2, TLB3, TLB4
Once uptend line is broken, the support line became resistance.
Re-testing these broken trend lines provide short opportunities.
To Verify the end of down trend: close price above the trend line.
TLB3 pushed the price down in one week. But it didn't push the price down too far.
TLB4 pushed the price down in past 2 weeks. It worked perfectly already.
In Next 2 weeks,
If close above this trend line. Down trend is done. (V reversal, this is the most strong revesal patten.)
or
If close below this trend line. we are still in down trend.
222 will be the 3rd touch of next uptrend line (TL5). If price could back from here, it will be double bottm.
If TLB5, Next target is 200.
Dagangan ditutup: sasaran tercapai:
This is analysis only. It is accurate.