A no frills chart. This pitchfork and hidden trendline has been framing the price for weeks. I think yesterday was another bull trap and we'll have a lower low today or tomorrow. Margin calls should make the selling very intense, which I know we have seen, but we should have a final flurry and spike down of GTFO action.
Most people (myself included) assumed we would bounce this week, but I had a feeling yesterday with the gold action (corrective waves) that everything was in a bull trap.
Good Luck!
Most people (myself included) assumed we would bounce this week, but I had a feeling yesterday with the gold action (corrective waves) that everything was in a bull trap.
Good Luck!
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SPX and SPY made higher high, NQ hasn't and SP500 futures hasn't. Hard to tell what's happening exactly. My stop is close. We may follow through and break out for real or this is a massive bull trap. CNBC talking heads are very confident and relaxed - someone even saying we may have bottomed for real..... so there's your inverse indicator. Good luck
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ES is following this trendline, probably spike through and reverse
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Top has resistance as well. Will reenter short there
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Target of 2515 hit, reentered short.
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Perhaps one more higher high to 2525, Shouldn't get to 2540 if this is correct
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I think that's the sell. Very convincing bull trap if it turns out how I think it will. Good Luck all
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If the lower trendline breaks and the retest of the line fails, that would be a safe short with a tight stop. Good Luck All
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Looks like they want to close higher, I'll keep the shorts on personally. This trendline should shape the price into close
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Channel high into close, went long and then will take shorts close to the top
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Entered short, got fooled by the wrong channel count - oh well. Usually when I'm short it keeps riding the channel till I'm exasperated :).
Still looks good for a nice short swing trade - tomorrow is unemployment numbers, noone wants to be long for that I'm sure. Good luck all
Still looks good for a nice short swing trade - tomorrow is unemployment numbers, noone wants to be long for that I'm sure. Good luck all
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Could be this - any higher would be invalidated.
Could be this - any higher would be invalidated.
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Possibly target hit (trendline backtest). Watching closely for confirmation
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