ES: a triple resistance stopped the rally
According to JM Hurst, the founder of Cycle theory, several cycles tend to bottom simultaneously. Those points should be aligned with important lows on stock price charts.
You can see that every time three cycles (x3 supp) or four cycles bottom (x4 supp) price turns up strongly.
That happens because when a cycle reaches its bottom it immediately turns up and starts pushing price up.
When several cycles turn up in unison their upward pressure gets combined.
This is why tracking points when several cycles find bottom provide lucrative entry points
You can see that every time three cycles (x3 supp) or four cycles bottom (x4 supp) price turns up strongly.
That happens because when a cycle reaches its bottom it immediately turns up and starts pushing price up.
When several cycles turn up in unison their upward pressure gets combined.
This is why tracking points when several cycles find bottom provide lucrative entry points
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.