Nasdaq started the day without having a trend line. When this is the case (no trend line) price will play with levels (horizontal lines) until it build a trend line.
So, for Thursday Nov,12 levels is what matter until I see a trend line. You can see them in the chart.
General notes about my charts:
I focus on Nasdaq and some times SPX and Dow. I don't use any indicator, I only use lines and pattern in my charts (i have my rules for lines). You will see 3 type of lines:
1- trending lines (green for up trend/ red for down trend)
2- horizontal lines ( those are levels that market will highly possible to respect them)
3- lines to show the pattern border.
the trending lines are more important than other lines. One of the noted information is usually market if breaks any level (horizontal line), it will go to the other line to test it. So, if you have the levels in your chart, you can expect the most likely move and so on.
So, for Thursday Nov,12 levels is what matter until I see a trend line. You can see them in the chart.
General notes about my charts:
I focus on Nasdaq and some times SPX and Dow. I don't use any indicator, I only use lines and pattern in my charts (i have my rules for lines). You will see 3 type of lines:
1- trending lines (green for up trend/ red for down trend)
2- horizontal lines ( those are levels that market will highly possible to respect them)
3- lines to show the pattern border.
the trending lines are more important than other lines. One of the noted information is usually market if breaks any level (horizontal line), it will go to the other line to test it. So, if you have the levels in your chart, you can expect the most likely move and so on.