mikeoakster

Starting to fall?

INDEX:SPX   S&P 500 Index
Hello!

Price approaches the top of the declining channel, and what happens? Price starts breaking the rising channel to the downside...

In other words, the current rally looks like a counter trend wave, being the major trend a downtrend, as determined by the declining channel, which is the major one.

Therefore, it we get price action completely below the rising channel and if it's confirmed afterwards (maintaining the top of the declining channel intact), then I expect price to return to the base of the declining channel.

This has been my plan and, at least for now, it seems reasonable to keep following it.

Good trading!
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out