The Feds Through a Spanking on the Market
From a Bull’s Eye
The Feds through a spanking on the market when they said they had 4.5 trillion to unwind from the balance sheet.
SPY lost about 1.06% top to bottom – IWM lost about 2.42% about top to bottom, LOL that woke a few people up yesterday. For some time now we have been warning our member’s not to get too long and blind to the bear. These charts have been giving warning signs and clues, we have faith and trust our chart indicators, in fact, we trust them so much we have been holding TZA and UVXW for a few days now. Let’s take the SPY one step at a time – SPY $233.20
FREE Trade Idea – DK
Daily Chart – The chart has created a bearish “h” pattern and a Blue Ice Failure. The pattern developed after the Bears had their way with a Bearish Engulf and a double top. Price has pulled the T-Line below the 34-ema, the 50-sma is next.
Trader’s Tip – Look at the 3-Day chart, and you can see that the bears are not allowing the Bulls to get through the 200-sma
Today we have 10+ trade ideas located on the members trade ideas page each day.
Today we have 9 more members trade ideas located on the members trade ideas page.
Spotlight Trade – BOFI (short)
BOFI (short) – Closed lower yesterday pushing the gain to 19.98%. The trade started after HRC posted the short trade to the members. BOIF was a failing chart and then begun to draw a Bearish “h” Patten. Price crawled up a bit and then rolled south, broke through our dotted deuce and headed to the 200-sma. Note the
Bearish “h” (Uptrend Reversal) Pattern Basics
The Bearish “h” pattern looks like the letter “h” and is considered an uptrend reversal pattern. It forms as part of down trending price action. You might say that this is the upside down version of the Bullish J-Hook pattern. As price pulls back from a swing high, the key is to look for a brief rally with three or four candlesticks that have higher highs because this may be part of the Bearish “h” pattern. After this, price stops moving up and start moving sideways.
The highs of the candlesticks in this part of the “h” pattern stay in the same price range. You can literally draw a box around the candlesticks that form the top of the Bearish “h” pattern. Price then starts to move lower and breaks down and out of the sideways price action. Price continues lower and breaks down below the low at the start of the pattern. This breakdown confirms the Bearish “h” pattern and signals a shorting opportunity. The downtrend resumes and price moves lower. Read More.
Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks or it’s associates should be considered as financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service
Members trade ideas below
Scanned from Tc2000 | 10-15 trade ideas daily
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