SPXU trade ideas
Possible low risk short Seeing as the S&P has been constantly hitting support this may be a good oppritunity to short the SPXU with a low risk SL at resistance area somewhere around 42.19. TP i will further update depending on market momentum tomarrow. In anycase we may have a small short gap but VOL and momentum will determine my TP . Lets see what happens. Remember always use proper risk management. i only day trade ETFs due to the high risk involved with keeping trades open long term.
Pennant or wave 5 still missing?Remember SPXU is inverse SP500
Notation on chart
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TWUC
@BLawrenceM
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Bearish Alt Bat in SPXUBearish Alt Bat
Should see reversal soon for the SPXU and for SPX.
TWUC
@BLawrenceM
Possible resistance coming in here at MA 50At resistance
BUT COULD BE VERY BULLISH if bears reclaiming ma 50 on daily
Notations on chart
Trade what you see
@BLawrenceM
Tug of warNice fight here between bulls and bears
Notations on chart!
Trade what you see!
@BLawrenceM
Megaphone - Expanded DiagonalBull Flag breakout in after hours
The pattern setting up is an expanded diagonal or "Megaphone" and will eventually end
bearish for SPXU and bullish for the SP500.
Fear not believe in what you see and trade it
@BLawrencM
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Bearish Cypher and Bearish Bat support this move up in SPXUNotations on chart
Post market trading showed bullish movement so let's see on monday.
Have a nice weekend!
Fear not but believe what you see and trade it
@BlawrenceM
Possible Bearish Cypher in SPXU into the weekendBearish Cypher
Bear fund ETF - inverse SP
Still unclear and on the edge right here but still a valid pattern right now.
Friday and people want out before weekend could give a bullish sentiment before close.
Fear not .. believe what you see and trade it.
@BLawrenceM
ABCD done in premarket SPXUSPX should find a bounce area here and spxu should find a top.
The 2050 handle is important for the bulls for maintaining a bullish trend (hh and hl)
Safe trading ladies and gents
@BLawrenceM
Bowtie in SPXU on 10 min chartCan the price break the sar (well has already) and stay at the 37.90ish handle for about a little hour ...maybe only 45 min (hard to predict exactly) then
we probably see a bowtie (moving average coiling) and a price continuation to the upside and not a bear flag into the close.
The same thing that happen at 3:20 when the red ma crossed the 2 other ma's
But price need to stay carme here so ma's can catch up.
Safe trading Ladies and Gents
Time will tell!
@BLawrenceM
More than a hunk of meat to the bearsIf indeed the top is in - here is a bullish count for SPXU - 3X SPX
I see a wave 1 up in 5 waves and a wave 2 down yesterday. Today we see wave 1 of 3 and a possible wave 2 of 3 as a retrace.
A 3.168 ext of wave 1 will close the gap at 52.20- 52.59
Safe trading ladies and gents!
Fib...a kind of MAGICStill speculative
First goal is of cause to take out red wave 4.
BUT the big question is... will what I call wave 1 take out 50,59 (red wave 4)... if so SPXU will set a HL a little later proberbly with only a 38,2 retrace and a long awaited correction is on its way
Safe trading ladies and gents!
@BLawrenceM
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An early wakeup call...Is this the IHS to end it all? I think soThere might be some back and forth here and a retest of intraday high....buuuuut ....I'm long SPXU
Safe trading ladies and gents
@BLawrenceM
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Wave 2 in SPXU.... before further up?Speculative right now...
So fare 78,6 is key area all gaps above are closed
88,6 could be the final target but as a bull trap
Safe trading!
BLawrenceM
Where are SPXU heading?Possible outcome right now:
Minuet wave 4 or subminuette wave 4 with ihs target
Tree way drive to a bottom could play outIs not quit in sync with the SP that could make a butterfly pattern - completing above 1900 and around 1909.
As always time will show.
Safe trading gents!
BM
