DaddySawbucks

I Spy Iinverted H&S + Cup/Handle in Sand P!

Long
TVC:SPX   S&P 500 Index
Chart shows all. IF it goes it will get another 10% IMO, ending around 3750 ish after election.

Just an idea, not advice; trade at your own risk!
Comment: It's really close to turn IMO; wait-see Tues how it plays and look to long ~3400, at the 0.50
Comment: Looks like it bounces from the Fibo; if we get a deal it will Bull; if not, Bear again
Comment: Futurz trade at fibo 3408 lets see if it bounces!
Trade active: Going long, internals are solid: https://www.marketwatch.com/story/dow-sp...
Trade active: Flipped the calls in AM and played Fade Gap for nice net. Monday might retest lows from Thursday before moving higher, price action still bearish atm. In cash.
Comment: SPX sells but nothin like Thursday; most of action in NQ1, PM price is well above Thursday low and steady in narrow range. If no late PM selloff, likely pivot higher next week IMO
Comment: Fake breakout on Fri 10/23 followed by hard sell on Mon 10/26, near oversold but room for another drop IMO. DAY TRADING ONLY!
Trade closed manually: IMO C&H is invalidated. Looks like a zig-zag correction going since 3 Sep; 28/29 Oct looks a lot like 23/24 Sep, if it plays the same, gonna get a big Green candle soon.
No shorts; a few hedged longs.
Comment: Just reviewing old ideas; this is perfct example of how deceptive patterns can be. C&H turned out to be part of a larger Zig-Zag correction! Whipsawed to Death!

Comments

That's a very obvious pattern.
Watch carefully for the deception.
+1 Reply
DaddySawbucks The_Unwind
@The_Unwind, Always!
Reply
The_Unwind DaddySawbucks
@DaddySawbucks,

I have the greatest respect for you.
However, cup and handle pattern too obvious here
Stimulus deal.. great, but the market has already discounted it.
Best of luck
+1 Reply
DaddySawbucks The_Unwind
@The_Unwind, Never underestimate greed + hope.... but not betting farm on this!
+1 Reply
The_Unwind DaddySawbucks
@DaddySawbucks,

I understand. But as long as YOU know, it's a "set up "
+1 Reply
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