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thechrisjuliano

What does an extended trend look like?

E-mini S&P 500 Futures (Dec 2023) (CME_MINI:ESZ2023)  
thechrisjuliano  
CME_MINI:ESZ2023   E-mini S&P 500 Futures (Dec 2023)
Trend Analysis Support and Resistance Supply and Demand Contains IO script
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trendanalysis supportandresistance supplyanddemand containsioscript
We have an extended trend on the ESZ2023 contract.

Look at the 1 hour chart. The candles on the TrendCloud have turned ice blue indicating that we might have a deep pullback or possible trend reversal.

There are 5 waves in an average trend. Once price hits that 7th wave the trend is considered to be "extended."

Chris Juliano
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