Patterns do fail sometimes, so it was the right call for you to stay short and weather out any possible upside swings. The market will likely make another lower low by the end of this week.
If you look at the 10 minute chart (or 15 minute chart), you will see and inverse head and shoulders pattern, with 2 left shoulders, one head at 105.64 spy low, and now 2 right shoulders that have formed.
Once it breaks out, the upside target is about the gap fill level of 111.76 spy. That's my idea shorting target, should we get there?
not really, at this time anyway.
I'm planning on a new high and trying to position myself for that.
It never is but we try.
You were right about the sell off last week 🙂
i am done trying to predict the market. as far as i can tell, there is only one person who could.
Thanks Newbear….
Wouldn't it be a shocker if I actually made correct forecast? LOL
Patterns do fail sometimes, so it was the right call for you to stay short and weather out any possible upside swings. The market will likely make another lower low by the end of this week.
can't be that easy newbear.
Hi Red,
Great video much shorter then your first one 🙂
Good luck to us all I'm sure we will get a really good short entery as the bulltards push it back up.
i don't know how much value i put in TA but time will tell.
If you look at the 10 minute chart (or 15 minute chart), you will see and inverse head and shoulders pattern, with 2 left shoulders, one head at 105.64 spy low, and now 2 right shoulders that have formed.
Once it breaks out, the upside target is about the gap fill level of 111.76 spy. That's my idea shorting target, should we get there?