Let us first outline the chart above which our explanations will be made weekly by the leading index leader. of the spx500 markets
the 0a note (before the 0 decal wax is displayed) b ???? after the crash ???? on 1259,13 it looks strong as a support, but on 1343,26 the price is starting to show continued weaknesses.
the 0 candle is starting to approach bubbly ???? support on 1259,13(note this is a weekly chart we have the ability to slowly watch this candle movement!), and its closure shows a clear split of that support.
when creating the 0 candle because of the size of the body and because of the violent approach. we can follow this break up but stay within the next week, with the high probability of 0's falling momentum ???? will pass on that too.
the following 9 weeks are shaping the 1 level as a candle holder a EINAI Critical because there are so many investors buzzing around ?? that the price will be re-approached-returned ???? such discounts are simply incorrect! Patients will keep waiting until they are re-purchased at 1 level after seeing a candle that will confirm the crash at this level in an attempt to break it.
the next candle a1 is candle b ???? key ????! take good care of the size of the position and start violently approaching the 2 level in an attempt to create an uptrend;
follows the breakdown of the 2 level after the approach (with an upside gap!) whenever we BUY POWER during this breakup inbound long.
the trend will run up to 3 level and we will again have resistance to this upside.
with a risk of seeing some magnificent candle? we can introduce some risky positions by discounting the 2 level approach.
it really does happen but at this point it wants tremendous attention so that its breakdown is not discounted!
CANDLE C acts as a spring-loader. returning to the upward movement or the backward movement? of the 2 level as a support and the deterrence gives us long meaning we are entering buyers again.
at position 3 we are partially liquidating our positions and again we will not discount the breakup when it comes to it.
the movements between levels 3 & 4 are of doubtful value and we do not proceed with actions while keeping a waiting attitude again!
wax is but the focal point where we are getting ready to enter buyers after the violent 4 disruption next week we are entering again!
notice that slowly and steadily the upstream bottom has formed, this will help us to get away from here and there to discount some. some incoming bores with the main trend.
the 5 level bar is created after strong upside.
and then pushes us the 1554 level as a support below it after breaking away from the formation g we enter Long! and not sellers antithetical thinking that the trend was too much!
and we are now back in standby with a probability of 50% -50% approaching either 6 or 5 level with test support of this support.
the above process note that it has a purely educational character and tries to introduce the reader to a b ???? multifaceted process ???? thinking about dealing with levels of support & resistance.
while the title is APPROACH we have expanded above for obvious reasons.
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