Yeah, I agree with your ideas there Super. Possibly the only thing I’d consider changing was to focus on that moving average line ( looks like a 50 EMA) instead of the drawn line. And yes, hopefully it was just a false break.
You see, as the SP moves into a sideways range, you will notice that ema’s flatline as well and can be used as beautiful support/ resistance levels instead of drawing lines and cluttering up charts. I’m not booted up at the moment but I’d reckon that the SP is sandwiched between the 20 and 50 ema’s. The longer this remains the more weighted this becomes. Trade accordingly depending on which way it breaks out.
I like your charts, clean and uncluttered without added on bells and whistles.
Cheers.
IMUGENE CHART. TA only, page-4402
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