Merry Christmas!
Lets get that one last FOMO pump into the New Year!
God Bless :)
Lets get that one last FOMO pump into the New Year!
God Bless :)
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If I am wrong with this idea you can just panic sell :D
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I am currently following the trade on this chart and adjusting my stop loss up accordingly.
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This looks like a false breakout on SPX and the type of action we expect to see when the market is topping. My trade from yesterday was stopped out in the money overnight. I made one mistake wherein I could've set my stop to a trailing stop before going to bed and I would've eked out more gains. I didn't think we would see the market as low as it was this morning. When I saw how low we were this morning I went long in a big way, very risky trade , but the 27860 entry was something I was looking for all week and on the hourly chart it looked perfect. And then that brings us to now. This move in SPX is screaming false break out. I want the market to grind higher and secure one close at ATHs before we sell off quickly after Christmas day.
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But there is the risk that we grind higher finish the month strong, have a slight pull back and then rocket past this resistance to 3400. Watch the monthly and weekly charts going into the end of the year.
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This is breakout. Posted confirmation IDEA.