2 declining peaks + divergence and 2 rising lows, which is a classic buy formation by itself (referring to price) during a bull market. NB: Bearish SPM has been confirmed by a histogram which registered 3 declining peaks ie divergence with price. I would not trade SPM if histogram is going against MACD signal/moving average for instance when MACD has registered 2-3 lower peaks but histogram is registering below the 0 line. BTW if you look on the hourly chart and 4 hour chart, then there are SPMs on both of those charts, on the hourly there are 3 rising lows in MACD & histogram confirms, on the 4 hour chart there are 2 rising lows in MACD & histogram confirms - to me that means quite a lot more upside to follow.
3 raising lows earlier this morning there was another good set-up in MACD (according to the SPM), but histogram was going against MACD signal/average ie lower lows in histogram when they need to rise as well for a perfect bullish SPM, just like in the later SPM that took place, where histogram is rising together with signal/average.
Give me a break! It's either going to go UP or its going to go DOWN. Watch what the Market does and then follow!!!!!!!! I hope this helps. Tom
Allaces. You are trying to 'time' the Market in order to 'game' the Market. Be content for your $ 'gains' to come from being 'with' the Market and NOT from trying to anticipate its absolute 'lows' and 'highs'. Hogs get slaughtered! I hope this helps. Tom
Clueless Tommy boy... SPM does not pick tops and bottoms And it's... bears retreat, bulls charge... and pigs get slaughtered