Peter Eliades SMC Update for 8-27-20

08/27/2020


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dr191103
dr191103

Peter in May as you stated most would have never believed we would be where we are today. What are we to think of the longer upside projection of 4100?

matiasjarnal
matiasjarnal

Congratulations are in order, Peter and Steffen! I am certainly a happy subscriber. Keep up the wonderful work.

mdmmd.sf443
mdmmd.sf443

Peter, I’ve never seen a trendline drawn from a remote anchor point low to an anchor point high many years later. By definition, such a line has to have been traded through at least once, as it was here, around September 2011. What’s so interesting, if you believe in trading maxims like “price has memory,” is that this chart convincingly demonstrates, to me at least, how prior support, once broken, becomes new resistance, even if that occurs years into the future.

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