Though the "4400 neck line" (presumed) was broken, it's not resolved yet. However... here's more TA from this chart. Notice the low @ 4366... "small double bottom" followed by a "test" a few hours later. It's OBVIOUS the market is/was playing "4366 as support". You could have seen it and caught a 25 point bounce, or at least a piece of it. (There are more TA indications in this chart... I'm just marking the most obvious.) It's not always this clear, of course... but sometimes it is. Bottom Line... The top and bottom of a 200 point move were clearly delineated... 4565 and 4366. If one knew Price TA and was paying attention, both levels could have been traded successfully. Trade what you see... not what you think/hope/feel. Price TA... KISS, Baby!
Wrong. YES, YES, YES! I don't mean to cast dispersions... but your "no, no, no" comment indicates you don't understand the concept of "support". (Don't feel bad... most others don't either.)
"Exponential Weighted MA"? I've not seen that description/term. The notion of "exponential" indicates "weighted". You know, SMA = Simple MA, EMA = Exponential MA. What period? Here's a clue for you. Moving Averages have limited usefulness. If you're focusing on them in (almost) any* regard, you're probably "fishin' in a dry hole". *EVERYBODY tracks the 50 and 200 day MAs for when they act as support/resistance. Other than that, limited usefulness in MAs... that and the fact that Price TA will get you into/out of any position closer to any top/bottom than any MA.
You shouldn't have such a big mouth when you don't even know what an EWMA is. https://corporatefinanceinstitute.c...s/exponentially-weighted-moving-average-ewma/
By convention in the financial markets, the "W" is not normally used... though it's used in "time series" not including the financial markets. (Your use of EWMA sounds like you're fresh out of your statistics class in high school.) You don't realize it, but you've "poked a stick at the big dog in Technical Analysis". If you want to apologize for your "big mouth" comment, I'll refrain from putting you ON IGNORE... this time. (Normally I'd put you "on ignore" for such an rude insult... but I see you're new to ET. Apologize and you get a 2nd chance.)
you call yourself the big dog and you don't know what an EWMA is? as I said, you have a fucking big mouth