"It's Okay to be Wrong, not Okay to Stay Wrong!"
"Better to be out of the market wishing you were in, rather than being in the market wishing you were out!"
Be real careful here as the market internals are weakening quickly. As I mentioned in the last video comments
"Be careful! This is not the same market it was a year ago. Buying the dip may not be a good idea."
Hi traders, this is my personal trading idea only. Please give an AGREE/ LIKE, my trading strategy is Price Auction - using Chart only, your comments are highly welcome. My chaos drawing is not to predict and guess the further, it is my plan where we are on the chart and how we shall trade on what we see. Good luck guys.
Pick any path you want, none look appealing from a bull's perspective.
I created this chart today because I found incomprehensible that the Russell tape kept getting bought aggressively into today's close. Forget about the fact that this index has tested the lows of this triangular range (black date range above) several times, but what is more troubling is that...
A simple risk-reward setup. The first target, a Head test of the Head and Shoulders pattern.
With ETh at all-time highs now small caps breaking resistance from long-term support
risk on is back in vogue. At least for now.
After a huge move up on very little earnings, Small caps (Risk On) have now formed a
Head and Shoulders Pattern. Coupled with a number of other indexes that have hit
resistance and the fact VALUE has been in vogue of late. The danger light is flashing.
Head and Shoulders are continuation patterns in an uptrend and topping at all-time highs.
Clearly, the H&S here...
Russel small cap 2000 moving upside in a paralell channel and now the price arrived to the Channel upper line at 2300 usd. I think it will go down to previously support/resistance at ~2200.
Trade at your own risk.
If you like my idea, dont forget to leave a comment, follow, and like.
Align prices with resistance areas to sell with the trend
NOTE: the market is for reference only, absolute cut-loss is always observed
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Wishing everyone a happy and happy weekend!
Risk on Small Caps about to reverse course. The catch up play has gotten tired.
Weekly Initial Unemployment Claims increased sharply to 853,000 Up 137K from Previous Week.
over 3000 deaths per day from COVID19, hotel occupancy down -40% from a year ago Air travel
down 60% Core inflation 1.63%, vaccine or not the deep scaring in the real economy cannot be...