The volatility in the markets can be absolutely devastating, especially for weak hands. I just saw an article about an over leveraged young trader taking his own life, please be careful everyone, and look out for each other. I see a bearish cypher has formed on the 15 min chart for SPY. Let's see how this, combined with J. Pow, influences prices tomorrow. I am still bearish on the market this week, but tomorrow will be a key decision time, if we break 311 then I will get out and re-analyze. Best of luck to all.
Trade active
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this may actually be a bearish shark; I'm not too well versed in all of the different harmonics the general idea isn't changed though.
so you have basically crated a picture of the SPY looking like a spacex rocket ship from 296 to 307, and you think shorting is the call, WOw
fibtastic5
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@azdevil,yes I created a picture of a well known harmonic pattern. It is by no means a guarantee of a price drop but it is a legitimate cypher pattern, look it up.
azdevil
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@fibtastic5, Yes it looks good, don't know much about those but think its like a BAT pattern, but every BAT like pattern I have seen on here never worked for shorts, seems like the ones i have seen actually just break out up
fibtastic5
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@azdevil, yes well I agree with you about using it as a reversal signal against such bullish momentum