Rule #1 of Head & Shoulder pattern, entry should be only after the pattern has been established.
The SPDR trapped a lot of bulls in October. Is is getting ready to trap more or is the web too heavy?
Everyone is excited about the Inverse Head & Shoulders pattern that is forming and they are waiting for the SPY to climax above 280.
But all other indicators are speaking a different story.
The only way the Inverse H&S pattern plays out as everyone expects it to is by SPY gaining 10$ with conviction in the next 3 days. Not cheating by gapping up, but by steady growth in volume and neutral/bullish candles on a Thursday and a Friday! Usually by end of week, the big guns sell off and party.
I'm expecting strict average bullish volume and price action by the end of this week for the Inverse H&S to succeed and a reversal/correction to conclude, else I will continue to short SPY.
What do you think?
The SPDR trapped a lot of bulls in October. Is is getting ready to trap more or is the web too heavy?
Everyone is excited about the Inverse Head & Shoulders pattern that is forming and they are waiting for the SPY to climax above 280.
But all other indicators are speaking a different story.
- Close < EMA20 < EMA50 < EMA100.
- Close < EMA200. EMA200 has repeatedly failed to support the bulls.
- On the DMI, +DI (green) is sinking indicating a bearish movement.
- MACD is going to cross downwards onto the Signal line. Histogram continues to shrink and submerge. RSI continues to dip.
- Heikin Ashi Candles indicate bearish trend
- Awesome Oscillator indicating bearish trend
The only way the Inverse H&S pattern plays out as everyone expects it to is by SPY gaining 10$ with conviction in the next 3 days. Not cheating by gapping up, but by steady growth in volume and neutral/bullish candles on a Thursday and a Friday! Usually by end of week, the big guns sell off and party.
I'm expecting strict average bullish volume and price action by the end of this week for the Inverse H&S to succeed and a reversal/correction to conclude, else I will continue to short SPY.
What do you think?
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.