Drawing a trendline from the bottom of the 1987 crash, LOG chart, we are hitting resistance. Prepare for the decline. Watch unemployment numbers. Bloody summer is in.
Expecting rejection off gap fill. Expecting rejection off gap fill. Expecting rejection off gap fill. Expecting rejection off gap fill. Expecting rejection off gap fill.
$SH is an S&P 500 Short 1x ETF.
As my target approaches, I plan to scale into my position. I will look for it to act as support with increased volume before increasing my position further.
Short term, looking for downside as entry target is reached.
Depending on how SPX continues, shorts may be stuck. Looking to load the boat if price holds above pink trendline and also the white 0.236 fib line.
AMC currently entering what I call it's ignition phase using the ol' snippy sniper on the 4 hour.
Look at the macro support and alignment with the 0.618 fib level. With volume, I expect recovery at least back into the $4020 range.
Look at the macro support and alignment with the 0.618 fib level. With volume, I expect recovery at least back into the $4020 range.
Look at the macro support and alignment with the 0.618 fib level. With volume, I expect recovery at...
Very clear falling wedge (lower highs, lower lows.) What's interesting about this setup is we are nearing a gap fill from August 11th, the highlighted green zone. At the top of this zone is a blue dashed line. This happens to not only be a likely support from Aug 12, but is also a possible support on a 50% retracement. My trade, depending on how Monday opens, is...
Wyckoff Accumulation Schematic -- What follows?
Distribution. We can expect a distribution period followed by a markdown. Shed profits and prepare to enter short positions.
What generally follows? Distribution.
Setting up my position to expect a markdown in the midterm. Take not of the timeframe and this years long process of accumulation; institutions play the long game!
