SPX is in uptrend, breaking away. As long as the line at 2060 holds, it's a long. Just ride along using fair risk management. The way I see it, this is the breakout happening now to higher levels. This consolidation is over.
Today, hmmm, as if we could go down but just in case look at 2091 as over under, and just below that at 2088, now if we hang out at the 88 level for 30 plus minutes than i look towards 2086 and 2080. Now back to reality when buyer step in above 2091 my idea will be to stalk long to 2106, and 2116, with the possible hint of blow off at 2145. We are due for retrace...
until we can clear the range of the prior day we will be in a outside in chop zone, so just play safe!
Look at this chart and see the symmetry... ...kinda mystic to me. So, what to do here? Observe! P! mytradingcoach.teachable.com
today, looking at 2047 as the point buyers must get serious, and if they do will look for 2052 and 2056, failing buyers showing up and sellers continue to take over then will look for 2035, 2025, 2015. i think we open with a pop up and then see continued down, this is my first idea and will be monitoring 2047 for that short possibility as you notice these post...
See comment in the chart, why i'm in danger eating my one foot! §8-) P! mytradingcoach.teachable.com
The Russell is back inside the shoulders of the weekly head and shoulders. This could be seen as very bullish. For now pullbacks are buyable.
THE END OF THE 2ND BAT / W? - .786 fib retracement from our highs since the 225 tick move down in August (2116.75) - Top of our "tidy channel" - Smaller green candles each rising day shows weakning momentum, doji showing indecision - Loads of price action between 2100 and 1800: - As of now, short at the top of this channel, long at the bottom, unbiased in the...
Such pressing we can observe in the ES will lead most often to a brak in the opposite direction. That what my stats are telling me. Allways keep in mind that stats are...only stats... P! 4You: mytradingcoach.teachable.com
The legacy of Newton, Babson and Andrews - Action/Reaction . >>> Price is going back to center over 80% of time. <<< And here we have it again, and again, and again.... Many Traders looking for the quick & easy money. Trading with Action/Reaction and the Forks can be easy too. But first one has to learn how to apply these tools to the markets. That's why i...
THe S&P 500 reached it's bullish target at the 2000-2020 area (around 200-day MA on the daily chart) with a solid W-shaped recovery not unlike the one experienced on Q32015. There are a couple of technicals that I'm using as a rationale to open short positions from current levels: 1. Lower lows on Jan-Feb, 2. RSI about to hit Overbought on the Daily chart. 3....
Just thought I'd post this to see what you guys think, I think we should see this finalize in the 2040 area, with the highest potential of 2050 as a massive short squeeze . . . share your thoughts and charts, happy trading!
This is a longer term idea based off charting done from 2008 until now, and where we expect to go from here. For this interested, earlier today I did a shorter term outlook using daily candles, for those interested the link is: , or you can find it in my profile. Feedback and constructive criticism is always appreciated, happy trading!
This is a short term look at what is happening, longer term I see potential for 1600 but I will look at that in another chart.
SPX overthrew the top TL before reversing and also back-tested that TL before heading lower again (highlighted on the chart). Right now, SPX is testing the lower TL and it is critical to watch the reaction here. Normally, after an overthrow and back-test one would be tempted to go all out bearish, but this market has proved with the current rally off the lows...
Traders, by and large, are like kids in the back seat of the car on a lengthy trip shouting, "Are we there yet? Are we there yet? Are we there yet?" ("Is this the top? "Is this the top? Is this the top?). As a generally nondirectional trader who sells premium, the particular direction an instrument is going is not of great interest to me the vast majority of...