I'm a huge believer in what the 50 and 200 MA's can do. I've bee trading solely on those MA's on Crypto (LTCUSD and ZECUSD) All weekend with huge success. We're in the middle ground on SPX. I know my chart isn't fancy, but on Friday the 4 hr 200 MA Rejected price. Yeah, it went a little lower to a support level, but they both acted as the same) I'm going to assume that it will buy to the 50 MA. I'm going to wait to see how it reacts off that 50 MA. If there is another large pull back. Expect the next reaction to be on the 200 MA again. If it then falls below and closes below the 4 HR 200 MA, Expect the bears to come in full force. If it does not reject the 50 MA and buys through, expect a pull back to the 50 MA and then buy for the continuation that we've been seeing in the Market. I don't believe news had anything to do with the fall. The point is that we were oversold and we were just outside the ascending trendline from 2018. There was no genuine retest of that line andinstead shot right down through that ascending rendline.
If it is to fall through the 200 MA on the 4 HR expect the drop to have a reaction on the 200 MA on the daily. Most likely to be seen here.
If it is to fall through the 200 MA on the 4 HR expect the drop to have a reaction on the 200 MA on the daily. Most likely to be seen here.
You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.
