S&P500 Bearish Trend Turn - Here's My Short Trade

Feb 8

🔱 As long as price follow the projection of a pitchfork, the trend is OK. But what we see here is a turn - and here's why:

1. The market failed to close above the last high. So, this is a failed new high - or a Double-Top
It is confirmed because the last low is pierced by the last Fridays bar.

2. Price opened & closed below the Lower-Medianline-Parallel = The projection of the fork, which shows the temporary trend, is clearly broken. And this means: Temporary Trend Turn.

3. What we see now with last Fridays bar is a expected Test/Retest of the L-MLH. It's also a slap in the face of early Bears.

4. And if you dig really deep, you also see the Hagopian against the Warning-Line (WL), which confirms the thesis of the Test/Retest of the L-MLH. Because Hagopian says, that price will go farther in the opposite direction than from where price came. In clear words: Price will go higher than the "Hagopian High". And to be precise, I expect the S&P500 to test the L-MLH.

So, week Short hands are completely clueless now. How can it be that price pulls back so hard...?

Thank God I'm trading with the pitchfork. They give me clear rules. And I never have to doubt, because there is zero subjectivity involved.

Can price go higher than the last high at 1. ?
Sure, everything is possible. But - It's not likely to happen, my Pitchfork rules say.

My trade?
I will observe price-action at the L-MLH.
As soon as the markets show it's hand by clear weakness, I'm loading my Boat to the Short side.

My exit? If a full bar is closing above the last high at 1.

There you have it.

👉 FYI: I'm NOT a signal service. I provide educational content. If you want to learn more about trading with the Pitchforks/Medianlines, I'm here for you to help. And of course you can always check out all my links where you find helpful, educational material.

I hope this helps and I wish you all a great and profitable new week.

Feb 10

Note

I just uploaded a video , explaining the Why and How of my trade and how to handle lower timeframe pitchforks, deriving from a higher timeframe.

Feb 11

Note

We're starting to cook...

Feb 12

Note

What a stubborn market...rascal! §8-)

There is a lot of manipulation going on, specially from the Gov.
The numbers from yesterday where so fake that I smell the stinky numbers here in Switzerland.

How ever, I hold on to my rules, to the framework of the Pitchfork.
Sooner or later the manipulators get slpped in the face by the crowd. There is no bigger force than then people in a country...

Feb 12

Note

Steak & Lobster...
...let it print §8-)