peterchung16

Parabolic Wedge- Scalping market ONLY "Always Long"

FX:SPX500   S&P 500 Index
The SP 500 is currently undergoing Parabolic Wedge . Parabolic Wedge in Price Action always ends badly.

1. In Daily chart , the bull keeps buying the every pullback. There are no sign of reversal

2. In Monthly and Weekly chart, it is a Parabolic wedge

3. Always Long, Scalping only.

4. The Bulls are hoping for a bearish reversal at least 5% - 10% correction. It never happens.

5. The market breaks out to the previous high every single week or twice a week.

Comment: 6. There are massive short on the VIX trade. The last time it happens, it happens in 2008. Trader expects to double or triple their money based on shorting the VIX.
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