[SPXL] Falling Wedge: Get Ready to Short the BREAKOUT! Short

Direxion Daily S&P 500 Bull 3X SharesArca

Description

⋅ Sep 24, 2020 9:43 PM

When this thing breaks Mon or Tues, we're supposed to get some upside reversal movement but that won't last for long.

Will make for another good short entry point here before it continues heading down through October.

Comment

⋅ Sep 26, 2020 12:00 AM

We may have gotten our breakout already!

As you can see, Price got stuck right on the yellow S/R.

Lets see if it has the power to move up to blue or if it'll fall back to lower blues.

Green and Pink are max peak but I doubt it gets close to there.

Comments

columbiaaveart

⋅ Sep 25, 2020 11:38 PM

I'm confused :O -- Falling Wedge is bullish once it breaks out of wedge. So while you say it will break out, your saying it ultimately will retreat back to the downside?

ProfitHarvest

⋅ Sep 26, 2020 12:00 AM

@columbiaaveart, Yep