SPDR S&P 500 - Conspicuous pattern trading
Here are some obvious trading patterns that SPY has been trading lately.
In Cyan, we have a bear flag. The size of the flag channel matched the breakout.
In dark blue, we have a failed bullish pennant. The size of the flag channel matched the breakout.
By following the basic guidelines of the formation, anybody is likely to win.
I have made a couple of successful trades by following the depicted patterns, but the one key thing I have learned is not to get greedy. This is in my new year's resolution, 2023 - a slow, steady but profitable growth.
Hopefully, my publishment has brought you some insight if you hadn't already seen it, and you will start looking out for the next coming trade patterns to help with your trades. GLHF.
In Cyan, we have a bear flag. The size of the flag channel matched the breakout.
In dark blue, we have a failed bullish pennant. The size of the flag channel matched the breakout.
By following the basic guidelines of the formation, anybody is likely to win.
I have made a couple of successful trades by following the depicted patterns, but the one key thing I have learned is not to get greedy. This is in my new year's resolution, 2023 - a slow, steady but profitable growth.
Hopefully, my publishment has brought you some insight if you hadn't already seen it, and you will start looking out for the next coming trade patterns to help with your trades. GLHF.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.