Inverted head and shoulders on the SPX?
- Thread starter fantastic4
- Start date
And with the open NOT 6/10% higher this Sunday evening, I have now tagged out all +5 and +10 point targets for all held positions at 860's and 855's. With tonights profit target hits, I now have all my 865 short entries and 33% of my 866 entries covered while holding all 868 entries. At 850.00 I will cover an additional 33% of my remaining 866 entries (while holding all 868 entries), and at 845.00 I will cover the last 866 entries. I will not start to scale out any 868 short entries until price trades to 838 were I will scale out just over 16% of those positions.Quote from AMT4SWA:
Was able to get profit target fills at 861.00 for a portion of my positions on the pullback to 859's........entered some additional positions at 868.00 on that last end of day rotation up, so I am holding positions into the weekend.
So far we still have that resting inventory zone above us at 872's to 875's that the market has not been able to rally beyond....so we remain in the multiweek range. We will have to see what the Stimulus Plan/Treasury news will be over the weekend or maybe on Monday to see the next markets reactions.
I am still holding my remaining 873/874 short entries from the week before last and have resting targets at 803.00 and 793.00 where they wait patiently for price to return to those levels.
Sold 866's again with the morning rotation back just below AH session highs.....first target will be at 860.00Quote from AMT4SWA:
And with the open NOT 6/10% higher this Sunday evening, I have now tagged out all +5 and +10 point targets for all held positions at 860's and 855's. With tonights profit target hits, I now have all my 865 short entries and 33% of my 866 entries covered while holding all 868 entries. At 850.00 I will cover an additional 33% of my remaining 866 entries (while holding all 868 entries), and at 845.00 I will cover the last 866 entries. I will not start to scale out any 868 short entries until price trades to 838 were I will scale out just over 16% of those positions.
I am still holding my remaining 873/874 short entries from the week before last and have resting targets at 803.00 and 793.00 where they wait patiently for price to return to those levels.