SPY on the 15m chart.
The green trend is our upper and lower parallel channel.
Blue Circles indicate touches, subsequently bounces, on the bottom of the channel. ((5 Touches)
Green Circles indicate when the moving averages cross bullish thus indicating the start of an uptrend within the channel. (3 Total Crosses, all of which indicated a bullish turnaround successfully)
Yellow Circles indicate both rejections and bounces from the middle of our parallel channel. (5 Total)
Red Circles indicate rejections off of our top blue trend line. ( 7 Total Rejections)
Based on past performance in this channel spy could see a run up of about 1-2%.
Plan your trades accordingly. Good luck to all
Ben C
The green trend is our upper and lower parallel channel.
Blue Circles indicate touches, subsequently bounces, on the bottom of the channel. ((5 Touches)
Green Circles indicate when the moving averages cross bullish thus indicating the start of an uptrend within the channel. (3 Total Crosses, all of which indicated a bullish turnaround successfully)
Yellow Circles indicate both rejections and bounces from the middle of our parallel channel. (5 Total)
Red Circles indicate rejections off of our top blue trend line. ( 7 Total Rejections)
Based on past performance in this channel spy could see a run up of about 1-2%.
Plan your trades accordingly. Good luck to all
Ben C