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

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

  1. [​IMG]

    Is this a buy or a sell ?




    [​IMG]
     
    #51     Apr 29, 2019
  2. padutrader

    padutrader

    I have a very simple strategy....I guess.....

    ask anyone here I do not know how to trade
     
    #52     Apr 29, 2019
    Heydrrich likes this.
  3. padutrader

    padutrader

    ok my half cent.....this breakout is a weak one....I think it will fail and may break the low seen in the chart.....but the trick in this trade and in all trading is to time it precisely.....

    it may also go up for some time.i think you can buy for a short up movement....
     
    Last edited: Apr 29, 2019
    #53     Apr 29, 2019
  4. padutrader

    padutrader

    while it would take too much time and effort to explain everything about this chart....

    there are two immediate things that I could point out...

    one that counter trend traders are active and also that when counter trend traders are active, it becomes a channel type of price movement.

    it looks right now like the top of the channel.....

    now the question is how precisely we trade this? where we enter where we exit where we get out of the trade if it goes against us...... how aggressive a trader are you should you put tight stop or wide or should you average.

    most often I decide to just take a beer and chill.

    you decide I have only King fisher local Indian brand you may have more choices.....
     
    Last edited: Apr 29, 2019
    #54     Apr 29, 2019
  5. padutrader

    padutrader

    I think it is buy with target around 2956 and then it should reverse and test the low seen on the chart

    I think this is likely...most likely scenario.....but you also have to manage the trade.....something I have failed miserably to do so I lose money
     
    #55     Apr 29, 2019
  6. NQurious

    NQurious

    Bottoms, middles, and tops ... it can be a base or it can be a reversal and it can build out at anyplace and anytime the market behaves as such
     
    #56     Apr 29, 2019
  7. padutrader

    padutrader

    true

    that is why I found after 30 years of study, the best thing is to guess

    why analyze when the market can do anything?:D
     
    #57     Apr 29, 2019
  8. NQurious

    NQurious

    :rolleyes:
     
    #58     Apr 29, 2019
  9. padutrader

    padutrader

    sorry

    you must think I am nuts seeing all my posts

    every time I analyse the markets, I go through all this reasoning!!!!!!!!!!!!!!!!!

    that is why in the end I lose money
     
    #59     Apr 29, 2019
    NQurious likes this.
  10. This was the chart to look at

    [​IMG]
     
    #60     Apr 29, 2019