Güncellendi

A valid trend line should be touched at least three times

John Murph's book: A valid trend line should be touched at least three times.

Not

Around 50 points from the 3ed touch of the trend line, John Murph's book. will it hold we shall see.

Not

3772 is a possible touch down area for the 3ed time on this lower line of the

channel. John Murphy's says that touching it for the 3ed time shows it is a valid

support line , well today or Monday is the day to see.

Not

Our touch down area has increased due to to angle of the channel. Now it stands

roughly at 3778. 6 points shy of it, no matter what happens on Monday we came

a long way to come and not touch it to say the least. Touching previous low @

3694.12 January 29, 2021 could be a false bearish break out " Bear's trap".

Breaking 3694 and staying below it for more than 3 days Murphy's would argue

that there is a change in the main trend. New lines and channels need to be

drawn.

Not

Getting close for a third touch.

Not

Touch down achieved, Two options:

1/ We bounce back our next target is the upper line of the channel, which increase by time.

2/ We break out bearishly from the channel our legitimate 101 channel targets is :

A- The second touch of the channels @ " 3231 "
B- Breaking that, would lead us to our second target which is "691" points from
the break out =3105

Not

We broke the trend line need couple of days underneath it to confirm the bearish break out a possible retest of the broken channel if not and we tank then:

A- The second touch of the channels @ " 3231 "
B- Breaking that, would lead us to our second target which is "691" points from
the break out =3105

Not

The channel still holding strongly so far ,we shall what happen today.

Not

3 Days so far above the channel's line, John Murphy's book, it is a valid bull move !!!

Not

As of today, March 11 , 2021 with all else equal "4523" should be the next minimum target for this big channel since March's low. It is strong, legitimate, and quite bullish. Murphy's book Do not fight the trend, trade it till proven otherwise that's
pretty much summed his idea about trends. Therefore, unless we break this
channel look upward for 700 points move in coming month/weeks.

Not

Still holding .

samitrading

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

Aynı zamanda::

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.

samitrading

Aynı zamanda::