SNX as begin a new uptrend.
Reason
For every upswing, it first HH(Higher High) forms a Support level for it next Upswing. You can notice in the image above
And here is how: T1's high( resistance level ) forms T2's low( support level )
T2's high( resistance level ) forms T3's low( support level )
and finally
T3's high( resistance level ) forms T4's low( support level ) but if it doesn't form its sure to bounce in between T2 and T3 high.
But be always be sure to wait for a retest, for every trade you take.
Remember your risk management. Finally Goodluck in your trade.
Reason
For every upswing, it first HH(Higher High) forms a Support level for it next Upswing. You can notice in the image above
And here is how: T1's high( resistance level ) forms T2's low( support level )
T2's high( resistance level ) forms T3's low( support level )
and finally
T3's high( resistance level ) forms T4's low( support level ) but if it doesn't form its sure to bounce in between T2 and T3 high.
But be always be sure to wait for a retest, for every trade you take.
Remember your risk management. Finally Goodluck in your trade.