Skeksis76

Skeksis76

Ok Reward/Risk

Skeksis76

you say?

Skeksis76

Descending triangle with falling 50 DMA.

Skeksis76

reward/risk = 3

Skeksis76

I would like to get in somewhere close to the horizontal red and the lower median line. 50 DMA STILL RISING.

Skeksis76

Not certain of my stop-loss though...

Skeksis76

Means that if you are wrong 4 times and right 1 time, you break even. If you are wrong 3 times and right 2, you are in the money. At this point, I don't know how else to trade...

Skeksis76

Only because of all the moving averages in the stop-loss field; however, the FED announcement could cut through those like butter.

Skeksis76

Will enter at $118.00 for possible double bottom. Target is previous major swing-high, stop-loss is previous major swing-low.

Skeksis76

Reward/Risk is not great....

Skeksis76

Interesting to find these three major trend lines intersecting at this point in time on a log scale monthly SPX chart. For some reason I feel this intersection is significant notwithstanding the fact that we poked through the upper portion of the formation. I have a small SPY short position on right now even through I do not usually trade in the opposite direction...

Skeksis76

The latest 3 pivot points (which in all likelihood determines trajectory)... Doesn't matter what the fundamentals say... Wait till that lower line is broken...

Skeksis76

Price will continue higher until the credit runs out...

Skeksis76

Entered short position, in consolidation phase, fair reward/risk.

Skeksis76

Just entered position, see previous post...

Skeksis76

I still consider price to be in a downtrend in this timeframe (lower-lows and lower-highs), and am looking for low risk entries to add to short positions. A break above previous high could indicate change in behavior and might provide a good place to hide a stop. I placed the stop just above a previous gap (in blue). Fair-good reward/risk ratio depending on which...