Hit a few symmetry targets thus far as you can see below.
The textbook measured move has yet to be achieved. I
like to take partial profits (when trading futures especially) and
then swing the balance with a trailing stop (good for hedging if
long).
Another good example (the current bounce) of why I employ a
conservative measured move on HS patterns versus simply using a
textbook measured move. Price hits the conservative target
and reverses (bounces). The textbook move can still play out
over time but sometimes it fails and I personally don't enjoy
giving back profits. Make sense?
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SPX 5 Update
Posted by steve on 11th of Jul 2014 at 09:49 am
$SPX - Chart Link
Hit a few symmetry targets thus far as you can see below. The textbook measured move has yet to be achieved. I like to take partial profits (when trading futures especially) and then swing the balance with a trailing stop (good for hedging if long).
Looks like a double H&S
Posted by renko777 on 11th of Jul 2014 at 10:37 am
Looks like a double H&S now breaking the trend line again and putting in a lower high.
Another good example (the current
Posted by steve on 11th of Jul 2014 at 10:16 am
Another good example (the current bounce) of why I employ a conservative measured move on HS patterns versus simply using a textbook measured move. Price hits the conservative target and reverses (bounces). The textbook move can still play out over time but sometimes it fails and I personally don't enjoy giving back profits. Make sense?