Yes, we are BEAR HUNTERS!
Hello everyone! Yes, SPX did exactly what we discussed in my last analysis, and if you missed it, check the link below. As I warned, we shouldn’t try to predict where the next top is going to happen, it’s too dangerous and you will suffer unnecessary loses trying. Our trading style is reactive, not predictive. Also, follow me to keep in touch with our trades and analyses!
We detected, through our analysis, that yesterday’s Shooting Star was just another pullback to the 21 ema and the blue line in the hourly chart. That’s how we avoided the last four bear traps just this month, and warned you guys here, about all of them. As always, the link to these analyses are below.
Now, what could convince me that the trend is going to change? Several things. I already started to book my profits on my stock portfolio, check my social media for more details about it, because I don’t have time or energy to write everything here. The link to my trades on XP and LB are below (30% and 45% profits respectively).
If SPX closes under 3000 (dashed green line) I’ll book more profits for sure. But there’s no clear line between bull/bear market here, and the trend will change gradually, in my view, giving us time to book our profits, and to change to “bear mode” when necessary.
Now, look at the daily chart:
It seems SPX is going to hit the 3136, but I don’t discard pullbacks on its way. It could drop all the way back the fib retracement at 2932, or the 21 ema and wouldn’t spoil the strong bull trend. Only time will tell, but let's not precipitate ourselves shorting every single bear sign we see, ok?
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
We detected, through our analysis, that yesterday’s Shooting Star was just another pullback to the 21 ema and the blue line in the hourly chart. That’s how we avoided the last four bear traps just this month, and warned you guys here, about all of them. As always, the link to these analyses are below.
Now, what could convince me that the trend is going to change? Several things. I already started to book my profits on my stock portfolio, check my social media for more details about it, because I don’t have time or energy to write everything here. The link to my trades on XP and LB are below (30% and 45% profits respectively).
If SPX closes under 3000 (dashed green line) I’ll book more profits for sure. But there’s no clear line between bull/bear market here, and the trend will change gradually, in my view, giving us time to book our profits, and to change to “bear mode” when necessary.
Now, look at the daily chart:
It seems SPX is going to hit the 3136, but I don’t discard pullbacks on its way. It could drop all the way back the fib retracement at 2932, or the 21 ema and wouldn’t spoil the strong bull trend. Only time will tell, but let's not precipitate ourselves shorting every single bear sign we see, ok?
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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