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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures
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To: Justinfo who wrote (12326)12/17/2014 7:55:01 PM
From: Chip McVickar2 Recommendations

Recommended By
Blasher
Justinfo

  Read Replies (1) of 12410
 
Okay... pull up a 30 min chart of the $SPX cash market starting a few days before the last peak.

Bear Walk
You'll see a series of Lower lows all down the slope... even today's low didn't close above the last low

You'll also see a series of Lower Highs all down the slope... even today's high didn't take out the last high (very close)
They're like a series of steps going down.

This pattern will be considered broken when either or preferably both are broken.
That would increase the 'probability' that the down trend is broken.

You can allow an incidental break in the series... so long as the opposite high or low continues and the trend remains... no sense being rigid.

Seeing chart patterns like this increases probability... of course market price can do what it wants

The opposite is true of a Bull Walk.

Chip
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