Looks like a reasonable place to long, pattern completion, around key support, consumer staple in face of recession... ill try.
הערה:
First target here is 15 to 1 reward ratio.
הערה:
VERY conservative targets are still high risk reward, at the 236 and 382fibs... if youre a pussy.
הערה:
Not feeling volatile enough for a bottom.... maybe it gaps up tomorrow but im sticking with my spidey senses that this is going lower.
Im out... break even minus ripoff trading fees.
Im out... break even minus ripoff trading fees.
הערה:
So if this doesnt hold, things get really ugly IMO.>>>>
הערה:
Now were starting to get some structure.
I would be a buyer of a pull back, which i think is likely. perhaps not new lows, but yeah, will watch rsi for an entry.
I would be a buyer of a pull back, which i think is likely. perhaps not new lows, but yeah, will watch rsi for an entry.
הערה:
So that was the pullback, stoploss 33.20
no idea if this is the bottom but it very well could be...
no idea if this is the bottom but it very well could be...
הערה:
I didn't allow stop loss to activate, instead I doubled down at 33.08..
Also bought some dominion energy.
Also bought some dominion energy.
הערה:
Why? because of heinz compared to XLP. Not only do i believe heinz is at support on its USD chart, but also vs XLP.
הערה:
I added even more down here.
so the wave structure looks like a 5th wave completed... as markets move down it is showing strength now and moving up. Inversely correlated as it has been all year, but now it is a good inverse correlation lol.
so the wave structure looks like a 5th wave completed... as markets move down it is showing strength now and moving up. Inversely correlated as it has been all year, but now it is a good inverse correlation lol.
הערה:
This specific double bottom pattern on XLP / XLY has been ingrained deep in my brain. I will never ignore it again.
XLP is consumer staples vs XLY consumer discretionary.
XLP is consumer staples vs XLY consumer discretionary.
הערה:
Also looking for KHC to outperform energy/oil during this time, at least for awhile.
הערה:
Low timeframe wyckoff?
הערה:
Exited 33.64 for reasonable profit. Looks like this may break the lows, will know soon. keeping an eye for more long opportunities.
הערה:
Prefer we go to 32.80 at least before i buy anything.
if it doesn't get there i just miss the boat.
potential inverse H&S forming low time frame.
if it doesn't get there i just miss the boat.
potential inverse H&S forming low time frame.
הערה:
The recent scam pump changed everything.
new view.
new view.
הערה:
I have realized my mistakes, i made money elsewhere so im getting back in around the same price i got out.