SPX Short on Possible Lower High Pattern.
We've been making lower highs for a while. If this pattern is to hold we'd have optimal shorting entries here.
We are rallying strong into the 76 retracement, triggering a possible 76 reversal:
We are rallying strong into the 76 retracement, triggering a possible 76 reversal:
Comment:
Also possible butterfly continuation.
Comment:
Classic.
The 76 fade trade is the one I get trolled on the most when I post it online and it doesn't work. Especially if it's a short.
However, this is why I do it. Lose a little or win a lot. Good trading in my book.
The 76 fade trade is the one I get trolled on the most when I post it online and it doesn't work. Especially if it's a short.
However, this is why I do it. Lose a little or win a lot. Good trading in my book.
Comment:
A series of 76 retracements into a yank. Classic stuff.
Close to the 4045 target given in the OP.
Limits to short again 5125 / stop 5128 if we bounce near support.
Stops trailed tight now on shorts.
Close to the 4045 target given in the OP.
Limits to short again 5125 / stop 5128 if we bounce near support.
Stops trailed tight now on shorts.
Comment:
5040 target hit.
Actually still looks really weak would not be shocked to see it lower.
But def a spot to lock in short profits in case a big bounce or reversal comes.
Break of 5040 would seem very strong for bears.
Actually still looks really weak would not be shocked to see it lower.
But def a spot to lock in short profits in case a big bounce or reversal comes.
Break of 5040 would seem very strong for bears.