Rounded Bottom Breakout J-Hook

Rounded Bottom Breakout J-Hook

I will be considering TTPH because of the  Bullish Rounded Bottom Breakout J-Hook pattern. Using the (RBB) strategy, TTPH has a potential 40% to the top (RBB) target zone. The past eight bars have formed a J-Hook (continuation) pattern that could push price into the $4.45 area then to the $5.30 area.

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SPY

The SPY lost a little ground yesterday falling to the T-Line where buyers found a little comfort. Buys stepped in to create a small Hammer candle, today the buyers will be looking for follow through, and the wise trader will wait for confirmation. Confirmation is important because the past three candles formed an Evening Star which could lead to more weakness. Right now I am still bullish on price above $268 and bullish with tons of caution above $265.00

 

VXX – The VXX drew a Bullish bull Kicker yesterday but still in a hard downtrend so it will be important to see positive trading before trading their Bull Kicker candle pattern.

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