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MoneyPatterns
Jan 12, 2020 10:38 PM

SPXS – Bullish Breakout – Any Day Now… Long

Direxion Daily S&P 500 Bear 3XArca

Description

Trade Entry
Anything at $12.80 or below is a great entry price as hedge.
I am putting some wishful orders in the $12.34 area and below just in case.

Chart Details
Banana pattern almost at end. I think the last Daily Bullish candle gave us a better contact point with $12.59 low.
The current downtrend without significant uptrend has occurred over 3 months. Overdue.
Gaps to fill up to $17.40.
Bullish EMA Cross and price crossing 10WeekMA will confirm uptrend.

About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Website will be ready for launch mid-January 2020.
Disclosure - I am long BTCUSD, GBTC. Short term GDX Bullish, SPXS Bullish, MCD Bullish

Comment

Repos Just Extended
1/15 thru 2/13/2020
newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/repo-reverse-repo-agreements/repurchase-agreement-operational-details

Guess we will keep doing the same thing, expecting a different result (print more money) - definition of insanity

And that China Trade Deal....details are NOT going to be released. Why???
Comments
The_Unwind
SPXS wish number for me would be big round 12.50
It fits nicely at the bottom of the pattern on the Weekly Bar

Anything below 12.50 STOP in SPXS,
could give credence to a new, sharp upside continuation move, in the SPX
MoneyPatterns
@The_Unwind, Yes. I am still holding with a small 3% loss. In retrospect, this is nothing.

SPXS looks to fill all gaps. This is a good test in patience and building emotional stability/patience when trades are not working for you, but not against you either.

ALWAYS appreciate your comments and words of wisdom brother!
CryptoPaily
Massive QE going on. Trying to keep the S&P pumping.
One-World
insanity, no corrections. The world is using dollars so let all countries take the devaluation together, GG...
BobbyBanksX
The kicker with the latest repo schedule is that it's going to be

AT LEAST

120B.

What kind of definitive statement is that from the world's largest central bank?? So... could this next month be half a trillion, perhaps? A whole, cool trillion?

We shall see.
stockSMASH
nice review. OP EX fri.. Will they squeeze the lemon juice
BobbyBanksX
Previous bananas are around 2 months. Current banana in play is over 3 months... Come on! Say it with me... Fed manipulation.
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