Wednesday, January 19, 2022 12:22:52 PM
That's a good rule.
I'm looking potentially at similarities to the larger ABC in Sept/Oct, particularly the orange arrowed candle that got SPX back in touch with 8 ema/5 dma. Then the trend resumed again next day.
Usually another good rule is if the downtrend wanders too far from 8 ema/5 dma, it wants to get back in touch before resuming.
I'm looking potentially at similarities to the larger ABC in Sept/Oct, particularly the orange arrowed candle that got SPX back in touch with 8 ema/5 dma. Then the trend resumed again next day.
Usually another good rule is if the downtrend wanders too far from 8 ema/5 dma, it wants to get back in touch before resuming.
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