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#1 steadyquest

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Posted 25 September 2020 - 04:27 PM

Probably meaningless since we no longer have free markets.

 

https://www.investop...er-candlestick/

 

#5:  "Filled or red candles with no higher shadows identify a strong downtrend: Stay short until there's a change in trend."

 

Continuation.png

 

 

SPX-Heikin.png

 

 

 

NDX-Heikin.png

 

 



#2 salam

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Posted 25 September 2020 - 05:44 PM

Thank you for sharing.

 

with the 100 point S&P reversal in two days, I was kinda expecting Da Chief to post a snort or three, but there is still time.

 

A quick update on my position.

 

I am disappointed I missed a long cover opportunity premarket today.

 

I got stopped out of my SPX short entered in the 3266 area on break of the 3279 cash resistance.  That was a heavy and painful 13 point hit.

 

The market recaptured and then closed above the 5dma, but failed to close above 3300.

 

My Vix eTF remains in profit and I added, with a sigh on the close.

 

A weekly close above 3320 gets me bullish again.

 

Otherwise, expect volatility and swings to persist into October.


Edited by salam, 25 September 2020 - 05:46 PM.

I'm not sure what my future holds... But I know who holds it.

#3 steadyquest

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Posted 25 September 2020 - 06:19 PM

"A weekly close above 3320 gets me bullish again."

 

That's interesting.  Oddly enough, a print above 3329 might actually turn me more bearish by voiding my initial projection, which has a worst case target of 2700, and yielding a new projection with a worst case target of 2283 (to be reached some 6 months from now).



#4 salam

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Posted 25 September 2020 - 08:41 PM

"A weekly close above 3320 gets me bullish again."

 

That's interesting.  Oddly enough, a print above 3329 might actually turn me more bearish by voiding my initial projection, which has a worst case target of 2700, and yielding a new projection with a worst case target of 2283 (to be reached some 6 months from now).

Bullish ST to expiration.

My expectation is a rejection in the 3320-30 area, sideways chop then a hard down October 


I'm not sure what my future holds... But I know who holds it.

#5 12SPX

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Posted 26 September 2020 - 09:53 AM

Thank you for sharing.

 

with the 100 point S&P reversal in two days, I was kinda expecting Da Chief to post a snort or three, but there is still time.

 

A quick update on my position.

 

I am disappointed I missed a long cover opportunity premarket today.

 

I got stopped out of my SPX short entered in the 3266 area on break of the 3279 cash resistance.  That was a heavy and painful 13 point hit.

 

The market recaptured and then closed above the 5dma, but failed to close above 3300.

 

My Vix eTF remains in profit and I added, with a sigh on the close.

 

A weekly close above 3320 gets me bullish again.

 

Otherwise, expect volatility and swings to persist into October.

This is why I like profit stops even if there only 1 pointers.  I had two 1 pointers yesterday then got in at 3218 and rode it to 3290 was a nice trade!  With algo's and stupid traders the market can turn on a dime.