We warned about the BEAR TRAP (3th time, yes)
Hello investors! So, SPX banished the ghost of a triple top here, and the bulls resumed their trend. Yesterday’s candle was a little frustrating, yes, but the bulls retaliate today. In my last analysis I said about the importance to close above the fib retracement, and if you missed, the link to it is below, as usual.
I also warned you that yesterday’s movement could be just a necessary pullback, so the bulls could take a deep breath and gather the strength they need to do a pivot, and that’s exactly what happened here, and it did another bear trap. The 3th this month! I’m just impressed because I expected a sharper pullback, at least to fill the gap we see in the hourly chart here:
But, fortunately, I was wrong! The price found its support at the 21 ema, a possibility dismissed by me, but still, I'm glad it did. You guys know that I have my portfolio, and I talked about it on my social media. And, since you’re still reading this, I think you are finding this analysis at least interesting, otherwise you wouldn’t still be here, do you agree? So, please, like this idea and follow me to keep in touch with my analyses. I’m every day here, and I’m sure you’ll find something helpful.
Now, SPX is trading above a fib retracement and it did a pivot in the hourly chart. I’ve been warning you a long ago, this is a bull trend. I respect the bears, but please, be careful, you might get frustrated.
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. *
I also warned you that yesterday’s movement could be just a necessary pullback, so the bulls could take a deep breath and gather the strength they need to do a pivot, and that’s exactly what happened here, and it did another bear trap. The 3th this month! I’m just impressed because I expected a sharper pullback, at least to fill the gap we see in the hourly chart here:
But, fortunately, I was wrong! The price found its support at the 21 ema, a possibility dismissed by me, but still, I'm glad it did. You guys know that I have my portfolio, and I talked about it on my social media. And, since you’re still reading this, I think you are finding this analysis at least interesting, otherwise you wouldn’t still be here, do you agree? So, please, like this idea and follow me to keep in touch with my analyses. I’m every day here, and I’m sure you’ll find something helpful.
Now, SPX is trading above a fib retracement and it did a pivot in the hourly chart. I’ve been warning you a long ago, this is a bull trend. I respect the bears, but please, be careful, you might get frustrated.
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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