SPX's momentum is lvl, possible not an ending diagonal after all
Need lower momentum to confirm weakening 5th wave of an Ending Diagonal.
***Contracting ending diagonals should always show
a corresponding decrease in momentum as they
progress towards their culmination. Many small
candles that take a lot of time to gain further
ground is a good sign that an ending diagonal is
indeed occurring. Conversely, strong big candles
within a potential diagonal formation should be
a warning sign that you are probably witnessing
a 1-2, 1-2, 1-2 extension of the trend, and
therefore not an ending diagonal.
***Contracting ending diagonals should always show
a corresponding decrease in momentum as they
progress towards their culmination. Many small
candles that take a lot of time to gain further
ground is a good sign that an ending diagonal is
indeed occurring. Conversely, strong big candles
within a potential diagonal formation should be
a warning sign that you are probably witnessing
a 1-2, 1-2, 1-2 extension of the trend, and
therefore not an ending diagonal.
I do more in depth studies of stocks on my twitter account. Hope you would enjoy it there as you are enjoying it here.
****** Past performance is no guarantee of future results***
twitter.com/samitrading1
****** Past performance is no guarantee of future results***
twitter.com/samitrading1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I do more in depth studies of stocks on my twitter account. Hope you would enjoy it there as you are enjoying it here.
****** Past performance is no guarantee of future results***
twitter.com/samitrading1
****** Past performance is no guarantee of future results***
twitter.com/samitrading1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.