Jump to content



Photo

Once again they have closed the bear trap


  • Please log in to reply
11 replies to this topic

#1 andr99

andr99

    Member

  • Traders-Talk User
  • 7,456 posts

Posted 29 August 2023 - 10:01 AM

and the whole herd has been caught inside as always .......what you see is what THEY make you see.........they are aware of the fact that traders are familiar with TA, so that they make you see fake patterns, fake

 

breaks out of supports and resistances, fake.....everything. The only way to get out of this mess, to me was focusing on the longer term, leaving apart the short term and avoiding the short side of trades and the margin calls

 

that are linked to that.  


Edited by andr99, 29 August 2023 - 10:03 AM.

forever and only a V-E-N-E-T-K-E-N - langbard


#2 blustar

blustar

    blustar

  • Traders-Talk User
  • 6,220 posts

Posted 29 August 2023 - 03:10 PM

and the whole herd has been caught inside as always .......what you see is what THEY make you see.........they are aware of the fact that traders are familiar with TA, so that they make you see fake patterns, fake

 

breaks out of supports and resistances, fake.....everything. The only way to get out of this mess, to me was focusing on the longer term, leaving apart the short term and avoiding the short side of trades and the margin calls

 

that are linked to that.  

No doubt few will see the strong move back down into August 31 before rallying hard into Sept 8 and eventually Sept 20/21 before crashing for real into Oct 16.


Blessings,

 

blu

BluStar Market Insights Subscriptions

 

 


#3 andr99

andr99

    Member

  • Traders-Talk User
  • 7,456 posts

Posted 29 August 2023 - 03:49 PM

https://i.postimg.cc...Bpx/nasdaqr.jpg

 

the pattern above is a fake h&s and it is there to convince people to enter short.......the nasdaq is anything but bearish. The failure of that pattern, is projecting an intermediate term target of 15500 and along the ride the bears

 

will go on waiting for a drop that won't come. That's what I believe. Based on what I felt on my skin when I didn't understand how the market works. I was a bear myself. Now I trade the long side when the right time comes and

 

I carefully avoid to enter short positions in the short term or in the longer term. Playing the long side is not that difficult, because there's always something that rises.


Edited by andr99, 29 August 2023 - 03:57 PM.

forever and only a V-E-N-E-T-K-E-N - langbard


#4 steadyquest

steadyquest

    Member

  • Traders-Talk User
  • 782 posts

Posted 29 August 2023 - 06:27 PM

A minimum target for this rally - contains a retrace, so could go higher.

 

SPY4.png



#5 K Wave

K Wave

    Member

  • Traders-Talk User
  • 27,550 posts

Posted 29 August 2023 - 07:29 PM

I think it could very well come down to the next few days...

 

If Rusty busts out of the big time wedgie 4 hour alligator jaws upside, and gets a foot hold over 1900, then likely only a matter of time until it takes out 2K and possibly well beyond...

 

But...if it fails to launch over next few days and takes out 1830 instead, could be a very different story...

 

Seeing enough stuff to have me lean a bit to upside resolution. but need to see just a bit more action to fully commit.

 

 

 


Edited by K Wave, 29 August 2023 - 07:36 PM.

The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#6 K Wave

K Wave

    Member

  • Traders-Talk User
  • 27,550 posts

Posted 29 August 2023 - 07:33 PM

And this chart still scares the bejeezus out of me...but if market breaks out upside will start gearing that way...can never really tell how high bubble can blow...

 


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#7 steadyquest

steadyquest

    Member

  • Traders-Talk User
  • 782 posts

Posted 30 August 2023 - 11:36 AM

QQQ6.png



#8 steadyquest

steadyquest

    Member

  • Traders-Talk User
  • 782 posts

Posted 30 August 2023 - 01:05 PM

QQQ7.png

 

SPY5.png



#9 steadyquest

steadyquest

    Member

  • Traders-Talk User
  • 782 posts

Posted 31 August 2023 - 10:59 AM

A VTI count.

VTI1.png

 

VTI3.png



#10 steadyquest

steadyquest

    Member

  • Traders-Talk User
  • 782 posts

Posted 31 August 2023 - 05:22 PM

SOXX.  I didn't plan or force this result (or the others) - it just fell out as the best fit I could find.

SOXX3.png

 

SOXX4.png