Nice inverse H&S in the making (s&p500)

Discussion in 'Technical Analysis' started by Heydrrich, Apr 25, 2019.

  1. lets take a close look where it is up to
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    looks a bit the same as last friday on the S&P. In theory it has enough room to break this, with the 5 unfolding
     
    #31     Apr 27, 2019
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    cmon fly
     
    #32     Apr 27, 2019
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    Beginners luck, you cant draw shitty patterns and make money right ?
     
    #33     Apr 27, 2019
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    lets make the 0.5 as a target, nice number, re-evaluate from there. lets see what buttcoin does. Tempting to catch a wick at the .786 but can't take too much risk in this game
     
    Last edited: Apr 27, 2019
    #34     Apr 27, 2019
  5. Overnight

    Overnight

    What does Bitcoin have to do with the S&P?
     
    #35     Apr 27, 2019
  6. It's weekend
     
    #36     Apr 28, 2019
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    breakout failed, this looks likely to me. Why go down form here? Law of alternation: small retracement first wave, big retracement second wave.

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    This was another scenario that was possible, with the B unfolding. But the B did not went high enough to trap as much traders as possible. Therefore this scenario is unlikely to me: bitcoin still has room to go up unless close < 5k on higher TF which I find very unlikely
     
    Last edited: Apr 28, 2019
    #37     Apr 28, 2019
  8. this was the low risk/high reward trade to take yesterday. Why ? the 4 cannot go below the 2 for this count to remain valid. After the breakout you couldve raised your stoploss.
     
    #38     Apr 28, 2019
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    possible
     
    #39     Apr 28, 2019
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    look to short now
     
    Last edited: Apr 28, 2019
    #40     Apr 28, 2019