Studying the charts after a massive stock market drop is always fun. It brings excitement but more importantly opportunity. I always look at the three biggest time frames when looking for a major top or bottom in a stock or a market. In this case I am focussing on the S&P 500. I analyzed the three main chart time frames, the daily, weekly and monthly. The next step is to find a level that is significant on all three time frames. In other words, a pivot, moving average, trend line..ect, where the price is the same on each time frame.
I found it and it excites me because it shows exactly where to place my buy order for a bounce in the stock market. Find a great trade level is always exciting because it brings with it the likelihood of making thouands of Dollars in profit.
- Published: 12 September 2016
- Written by verifiedInvesting