Hello traders! In previous posts we explained how we believed the last leg up from October's low in the SP to be a primary corrective wave (B) to the upside on overconfidence about the soft landing narrative and FED policies. You can see from this daily chart how low were volumes during this last period.
We were expecting the target of this upside movement to be around 4300, but price seems to be failing before, reentering into the previous downtrendline (blue) from January's 2022 top.
Either the impulsive movement to the downside is resumed and we are aiming at lower lows, or the primary (B) to the upside still has to conclude and we would be in a retracement before completing it higher. In any case, we believe more downside is coming and we are trading the Head and Shoulder showed in the chart (diagonal neckline), from @3940.1, targeting below 3700.
We will update below. Happy trading! ;)
We were expecting the target of this upside movement to be around 4300, but price seems to be failing before, reentering into the previous downtrendline (blue) from January's 2022 top.
Either the impulsive movement to the downside is resumed and we are aiming at lower lows, or the primary (B) to the upside still has to conclude and we would be in a retracement before completing it higher. In any case, we believe more downside is coming and we are trading the Head and Shoulder showed in the chart (diagonal neckline), from @3940.1, targeting below 3700.
We will update below. Happy trading! ;)
Transaction en cours:
vix weekly divergence
Transaction en cours:
stop loss on entry. First target is 3780 but we can go big down
Transaction en cours:
inverse cup and handle/ head and shoulder 's targets on chart
Transaction en cours:
stop loss moved to 3940
Transaction en cours:
Trade fermée manuellement:
3940 tagged. Closed with 1.9% profit
Transaction en cours:
restriking @3963.6 stop loss @3983 risk 0.6%
Transaction en cours:
stop loss on entry
Transaction en cours:
kicked on entry, restriking 3980.1, stop loss 4020 risk 0.8%
Transaction en cours:
extended 4030.5
Transaction en cours:
we decided to give some breath at FOMC meeting extending little bit more (but still respecting our 1.5% rule) decision pays off: stop loss now on entry price 3980
Transaction en cours:
closed on entry. restriked 3996.2 stop loss 4041 risk 1%
