Welcome!
We have study the Asia market such as Shanghai Stock Exchange Composite Index, Hang Seng Index, and Nikkei 225. Let take a look at US stock market, NASDAQ. What is the NASDAQ Composite has performed so far.
NASDAQ Composite
Let superimposed the River. We can easily see the Price action bouncing off and flying above the River. However when come to mid June the price action crossed and deep below River. Be very aware that when the price action crossed, get resisted and bounced off below River. It will be bearish and become downtrend.
It is always a good practice to compare the chart with Gartley 222 Reversal Strategy when the price is extreme and at the top or bottom. As if the price action could not break up higher, the price action can only do either one of the action, sideway, reversal.
July 23, 2015 NASDAQ Composite
Thanks for visiting the website.
Moses
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