Another possible Head & Shoulder

Good day folks,

Looks like the market wants to go up. Is it going to last? I don’t know, but from what I can see on VXX, the pain is not yet over.

Basically, if this H&S materialize, the market could go higher for the next 2-3 days, then making the right shoulder would bring it lower. Pretty much flat for the next few days until next week, then we could see more movement on either side.

I’m a little bit late imo to trade the head drop in VXX at this time. I prefer to wait and trade the right shoulder both sides.

*Keep in mind that the last H&S in VXX did not sell, so better to wait for clear movement.

Thank you,

ความคิดเห็น:

With the rally we got after the Fed speech, i think it is most likely that VXX drop further, around 34, and make a smaller right shoulder. Anyway, pure speculation at this point. I'm gonna update once we have a reversal or cancel.

การซื้อขายยังคงดำเนินอยู่:

Right shoulder in the making.

ความคิดเห็น:

unless the market starts selling, there will be no right shoulder.

ความคิดเห็น:

Finally some signs of weakness in the indexes. For tomorrow, I think the indexes will be going down for the first 2 hours, then go back up for the next 2-4 hours. I think the best time to be long VXX would be between noon and 2. We will see.
Have a good evening,

ปิดการเทรด ด้วยตนเอง:

This is it; this was a small shoulder...