Hi, I'm new here, this is my first post. I hope to study more. I have been following this rise in SPX for some time. And the monthly is making a pivot. I don't know if you agree and like Fibonacci. The price reached 61.8 and now looks like it is heading towards the 100% fibonacci expansion price. This study is interesting. However, there are other barriers for SPX to reach this value, such as ES1 is at its historical high, which may cause some difficulty for the value to reach 100% of Fibonacci. Do you like fibonacci and pivot? Thanks for reading my post. I intend to post more technical analysis topics, I'm still learning, studying for almost 2 and a half years. Thanks for reading my post.
Hey @MushinT have a close look at MACD's work....search MACD and you will learn a lot more of what you are trying to see. good luck.
Yes I use measures to have expectations on turning points. Longer tf's I think tend to be more fundamental rather than technical plus price often has a target like a resistance level or a major number.
first time here as well, good thread. fibs are just guidelines, not rules. My opinion only anyway. Your’re right about the market pivot. At the higher degrees in terms of the ES, it’s completeing a 3-3-3 to the upside. There’s a little more room up from here but a short window. Should see moves down within the next couple days. No, not a market ending event.
Hi, thank you for your comment Yes, I also think about a downward movement these days. I even entered into some sales on the Japanese and Australian index, they are on gain. Then I think about posting these trades.
Hi everyone, it took me a while to post, but I kept remembering this post. I came to update the price progress at the fibonacci levels, as expected, the price reached 61.8 fibonacci in the previous image, and now the price as I said in the first post that could reach 100% of the fibonacci and has arrived, now the The market could make a major correction if its trend change is confirmed, which it has not yet been, using trend readings from this level, or the market could continue its uptrend reaching higher fibonacci levels. That's it, I'm studying and posting my studies here, it's great to have a space to share what I examine in the market; Happy negotiations and studies to everyone! Looking at the S&P 500 from afar Let's study!