Description
A close < 176 triggers a short position.
Using expiration two weeks out for a little additional time on this slow mover.
Put Debit Spread
Levels on Chart
SL > 176
*Stops based off underlying stock price, not mark to market loss
The Trade
BUY
11/12 172.5P
SELL
11/12 157.5
R/R & Breakevens will vary when filled.
The long put is placed ATM...
Short entry on Us30 based on;
Price action pattern on resistance zone (triple top)
confirmation of divergence on RSI
bearish engulfing entry on 1hr timeframe.
I don’t normally trade this market but I’ve been watching the Dow for many, many months waiting for this.
Many called this pattern since March a v-bottom. I disagree. I actually think the March drop and recovery is just the beginning of a massive long term double bottom that will span over a number of years.
The recovery has only happened because of the US...
Bear flag forming. Expecting a rally up to just below 24,000 (this level also coincides with a retest of the weekly 200MA support turned resistance) before the hammer drops and smashes us to a target of somewhere between 11,200-12,200.
** stop lose for 1st short is half of 1st target
targets and stop lose are clear on chart
This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for the success of
the structure or repetition. So please make your decision based...
Key resistance at 25.000
In the longterm I see some big downside momentum coming in the stock market!
Double Fib setup perfectly matches the key levels shown in the analyse.
Waiting for confirmation hopefully next week to enter short!
S&P looks pretty similar right now.
DOW30 is approaching resistance level 25440 with decreasing volume. Bulls are testing the resistance zone to see if any bears show up.So wait for bearish candles to show up first before taking any short position. Price might break through the previous swing level at 25440 to lure in break-out traders before swinging back down. Thus SL is set slightly higher at...
