I found it hard to decide about a bear or bull start. B1 and B2 were bull bars. Was a break of the low of B2 a sell? I drew a trendline over the tops of B1 and B2. My first sell signal was the top of B8. The close of B16 was te second sell signal. Rejection of the low of B274 and MA. Then I drew a bull trendline using the bottoms of B21, B22 and B23. The open of B29 was a buy as the tow bar doji of B26B27 had no follow through and there is support from the ema's as well horizontal support of the 1506.50 level and my bull trendline. I adjusted the steep bull trend line after B42. I drew a line over the tops of B29 and B32 and a parallel line using the bottom of B32. Then the open of B50 (after the small doji) was a buy. I had a horizontal support line at the 1508.50 level. The doji of B68 and B69 did me think of selling. I adjusted when thinking the bull movement was not over. Nevertheless I did not recognize live the 2 bar doji of B71 and B72 as possible buy. Also I had a bull flag (upper line B42 B51) which was broken. Should have seen that. I adjusted this analysis to fit from my printed chart of the SPY with live drawn lines. I thought I 'ld share it with you.
I found it hard to decide about a bear or bull start. B1 and B2 were bull bars. Was a break of the low of B2 a sell? I drew a trendline over the tops of B1 and B2. My first sell signal was the top of B8. The close of B16 was te second sell signal. Rejection of the low of B274 and MA.
ReplyDeleteThen I drew a bull trendline using the bottoms of B21, B22 and B23. The open of B29 was a buy as the tow bar doji of B26B27 had no follow through and there is support from the ema's as well horizontal support of the 1506.50 level and my bull trendline.
I adjusted the steep bull trend line after B42. I drew a line over the tops of B29 and B32 and a parallel line using the bottom of B32. Then the open of B50 (after the small doji) was a buy.
I had a horizontal support line at the 1508.50 level. The doji of B68 and B69 did me think of selling. I adjusted when thinking the bull movement was not over. Nevertheless I did not recognize live the 2 bar doji of B71 and B72 as possible buy. Also I had a bull flag (upper line B42 B51) which was broken. Should have seen that.
I adjusted this analysis to fit from my printed chart of the SPY with live drawn lines. I thought I 'ld share it with you.
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