Swing setup, last sell failed, bulls earned a buy coupon, only LL will voided it. Bears need to sell hard. see MACD is bullish crossed, so I give bulls credit of a doubt.
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My comments are for entertainment/educational purpose only. NOT a trade advice.
BullBear52x wrote:Text book, invert H&S, and consolidate to make HL or C&H. simple 101 type stuff.
Alternatively....
The attachment 1.jpg is no longer available
yes, but you don't look for H&S at the bottom @ RSI <30 on the daily, I will look for H&S @ RSI >70 but that just me
Nor me, I'm just F'ing with you...
I'm not a huge fan of the H&S pattern in general. Read something a long time ago that pointed out the H&S are really diamond patterns which are inflection points.
Speaking of diamond patterns, here is one I'm looking at (SHOP). I've been nibbling a bit, with a sizeable limit order in at $810. I'll put a stop below the recent low.
BullBear52x wrote:Text book, invert H&S, and consolidate to make HL or C&H. simple 101 type stuff.
Alternatively....
1.jpg
yes, but you don't look for H&S at the bottom @ RSI <30 on the daily, I will look for H&S @ RSI >70 but that just me
Nor me, I'm just F'ing with you...
I'm not a huge fan of the H&S pattern in general. Read something a long time ago that pointed out the H&S are really diamond patterns which are inflection points.
Diamante.jpg
major trend change occurred at inside day, Harami by the end of day. the day may starts as inside day and breakout on either side those are easy to tell if trend continue or reverse in real time. the Harami pattern get you guessing the next day. lets hope it breakout today, up or down.
My comments are for entertainment/educational purpose only. NOT a trade advice.
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BullBear52x wrote:Text book, invert H&S, and consolidate to make HL or C&H. simple 101 type stuff.
Alternatively....
1.jpg
yes, but you don't look for H&S at the bottom @ RSI <30 on the daily, I will look for H&S @ RSI >70 but that just me
Nor me, I'm just F'ing with you...
I'm not a huge fan of the H&S pattern in general. Read something a long time ago that pointed out the H&S are really diamond patterns which are inflection points.
Diamante.jpg
major trend change occurred at inside day, Harami by the end of day. the day may starts as inside day and breakout on either side those are easy to tell if trend continue or reverse in real time. the Harami pattern get you guessing the next day. lets hope it breakout today, up or down.
Agree, as I've said before, very much appreciate the contributions from everyone on this board. Some of the best technical analysis I see on a day to day basis. Thanks everyone (BB52)!
No position here. Looks like SPY and VIX are stuck in a holding position waiting next move.
Probably waiting for the FED and then we have to figure out how to react to the announcement.
VIX is still saying short any rallies though - but at the right price.
My comments were dictated to me by homie the clown
jademann wrote:No position here. Looks like SPY and VIX are stuck in a holding position waiting next move.
Probably waiting for the FED and then we have to figure out how to react to the announcement.
VIX is still saying short any rallies though - but at the right price.
Agree, as I've said before, very much appreciate the contributions from everyone on this board. Some of the best technical analysis I see on a day to day basis. Thanks everyone (BB52)!
This is the only forum I hang out during my trading day. Best, TA and info that matters to trading info only. Thanks Cobra for hosting without bias.
My comments are for entertainment/educational purpose only. NOT a trade advice.
Guess today will be going nowhere. All are waiting for tomorrow's FOMC.
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Keep knocking on 61.8% level, if it can not breakout the next test on 38.2% bears might have it, Bulls watch out, if it fails it will fail in a grand style.
My comments are for entertainment/educational purpose only. NOT a trade advice.
“Examining the rare ‘exercises’ of the Fed put, marked by extraordinary announcements or unexpected forceful actions – 1987, LTCM in 1998, 2001 Tech Bubble burst, 2008 GFC, 2019 ‘Powell Pivot,’ 2020 Pandemic Rescue – the average ‘exercise price’ is a -23.8% peak to trough (equating currently to SPX 3,670; in proximity to our 2022 downside scenario extreme of 3,575) drawdown,” said Julian Emanuel of Evercore ISI in a note Monday.
PS: Which is almost exactly where that pbar showing on everyones screen sits. Thats a roughly 15% decline from current levels.