SPY is currently at wedge trend line resistance.We have 3 basic scenarios at this point. 1- SPY breaks trend line to the upside to a near term target at top of CLONE. 2- SPY consolidates down to lower trend line or the bottom of current channel before moving higher. 3- SPY breaks support at bottom current channel and corrects mid way or to bottom of reference channel. CLONING works very well in conjugation with FIB. levels.
Commenti
Delta_Zulu
⋅
you were right
nmike
⋅
...trying for the CLONE break for a third time, should be interesting to see what happens at this CLONE level
QuantitativeExhaustion
⋅
Sure is close to a new clone.
nmike
⋅
...yes, I might have to add another CLONE on top , and republish this chart :D
nmike
⋅
update .....forward CLONE target reached, let's see if SPY can break CLONE or correct from here.....mind your boundaries.
littleriver
⋅
If this keeps up your going to need a new chart. I would like to thank you for the chartgame link. I have been playing for the past couple days. Really enjoying it! What i have learned from the experience, I will be using a lifetime. Thank you!!
nmike
⋅
...you welcome :D
QuantitativeExhaustion
⋅
Measured Target price of Head and Shoulders I posted a few weeks ago.