Cobra's Market View

But it's a green down p bar, do they work better???

bears making their move

Hi cobra master

I always have problem of differentiating rising triangle and wedge.
One is bullish but the other is bearish

Any way to tell the difference ? Thanks

iggintegrin wrote:I always have problem of differentiating rising triangle and wedge.
One is bullish but the other is bearish

Any way to tell the difference ? Thanks

I never figured that one out

Petsamo wrote:bears making their move

no., bulls need to satiate some move ahead
that head and shoulders inverted
it needs
on ES to hit 1340 esque
then technicals there would allow antying
up or down

TraderJoe wrote:But it's a green down p bar, do they work better???

I have not been able to differentiate between red, green or grey bars.

ps... it is POWER HOUR!!!

Petsamo wrote:bears making their move

Nah.. That line of resistance is now the line of support; just a back test before we go up more.

iggintegrin wrote:Hi cobra master

I always have problem of differentiating rising triangle and wedge.
One is bullish but the other is bearish

Any way to tell the difference ? Thanks

Rising triangle has a flat line across several peaks of same/similar height, while the interim lows form a rising line. This is bullish when prices finally break above the horizontal resistance of the prior highs.

Rising wedge has higher highs and higher lows, essentially forming an upward channel. This one is often bearish, esp when broken below the lower channel line.

Richarab wrote:

Petsamo wrote:bears making their move

no., bulls need to satiate some move ahead
that head and shoulders inverted
it needs
on ES to hit 1340 esque
then technicals there would allow antying
up or down

I'm tempted to buy F with revenues from X

rc1269 wrote:

iggintegrin wrote:Hi cobra master

I always have problem of differentiating rising triangle and wedge.
One is bullish but the other is bearish

Any way to tell the difference ? Thanks

Rising triangle has a flat line across several peaks of same/similar height, while the interim lows form a rising line. This is bullish when prices finally break above the horizontal resistance of the prior highs.

Rising wedge has higher highs and higher lows, essentially forming an upward channel. This one is often bearish, esp when broken below the lower channel line.

Thank you!

Petsamo wrote:I'm tempted to buy F with revenues from X

You really like those two huh?

I still have a tiny little ES sitting on breakeven stop loss, no intention to hold over weekend but certainly I don't want to be stopped here. Pray.

MrMiyagi wrote:

Petsamo wrote:I'm tempted to buy F with revenues from X

You really like those two huh?

Bets are minimal and F has nice fundamentals. I won't call F an investment because I can't stand unions.

The swing trade into F is done, now watch F plunge.

rc1269 wrote:

iggintegrin wrote:Hi cobra master

I always have problem of differentiating rising triangle and wedge.
One is bullish but the other is bearish

Any way to tell the difference ? Thanks

Rising triangle has a flat line across several peaks of same/similar height, while the interim lows form a rising line. This is bullish when prices finally break above the horizontal resistance of the prior highs.

Rising wedge has higher highs and higher lows, essentially forming an upward channel. This one is often bearish, esp when broken below the lower channel line.

How about this rising wedge? Note that it appears quite clearly on a 1min. 3LB plot. This is because time compression and LB construction favor abrupt moves which, in turn, enhance resolution...

thank you so much

rc1269 wrote:

iggintegrin wrote:Hi cobra master

I always have problem of differentiating rising triangle and wedge.
One is bullish but the other is bearish

Any way to tell the difference ? Thanks

Rising triangle has a flat line across several peaks of same/similar height, while the interim lows form a rising line. This is bullish when prices finally break above the horizontal resistance of the prior highs.

Rising wedge has higher highs and higher lows, essentially forming an upward channel. This one is often bearish, esp when broken below the lower channel line.

Europe will be the wild card (or joker) in the Monday gap up

i am about to short
here we go

Twas an all-day rally for IWM, XME, XOP.
My USO is a disappointment.