A Breakout of a 5-day high range can lead to further gains (especially in bull trends or above Monthly 50% levels)
A Reversal into the Monthly 50% levels (balance-point) and below 4153, can lead to a slow unwind, with price rotating back into the 5-day 50% levels"
Premium Report
SPI Weekly and 5-day pattern
SPI trading above the Weekly 50% level, and a breakout above Monday's highs @ 4153 pushing the market higher, helped by the Reserve bank cut in % rates after 14:30.
There was an early push down below 4153 of 44 points, and then a higher move back into the Monthly midpoints late in the day.
But it makes it difficult to make generalisations about trading either side of a certain levels:- 4153
SPI spiral filter
But when price moves from below the filter to above the filter, then the trend should be easily managed, and allows the trader to minimise risk and maximise profit on directional moves.
- Daily Trading Set-ups & Analysis
Posts
