What followed last year's flash-crash compared to the current market. Looking very similar.
Notice we have yet to test the 20-day MA (shows how oversold things got). So that would seem to be a possible resistance point, followed by the "W" apex, followed by the gap.
Rejected at the 20-day MA
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at firstname.lastname@example.org
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