Wanting to keep things positive with a long weekend ahead.
TA enthusiasts using Bollie Bands to read SP direction have certain indicators to go by. One of them is that whenever an SP steps outside the bands it's a buy or sell indication. In this instance, as the SP has fallen below the bands, I'll go out on a limb and say that there will be a green candle on Tuesday. I'm going against many indicators here.
You can see clearly where the SP's spiked above bollies (yellow) after 3 candles there was a sell down for those taking profits. (never buy there). And you can also see that recently in the blue square what happened when the SP fell below.
String me up and keel haul me if wrong. If overseas markets crumble over the weekend please show me a little mercy.
Cheers, have a great weekend.
Wanting to keep things positive with a long weekend ahead.TA...
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