SPY Shark and Deep Crab complete ~406 4H
Bear market rally to squeeze record amounts of put contracts and offside shorts
Deep Crab inside of a larger Shark pattern
deep crab xa extension can go to 1.618 or 1.9
shark xa retracement can go to .886 or 1.113
both structures have broken above their B points - double pattern B point breakouts are more powerful than one
these patterns can be considered valid potential harmonic patterns until an upsloping support trendline is broken
9-13-20 ema crossing 50/100 emas and pointing at 60 degree angle (showing strength) - working on getting above 200ema
indicators have room to run, personally would add 25% of overall position at current levels and would add full position on pullback, its personal preference, but 406 on SPY is programmed in time
entry 379
stop 362
target 404
r/r 1.6:1 probability of success: high
Deep Crab inside of a larger Shark pattern
deep crab xa extension can go to 1.618 or 1.9
shark xa retracement can go to .886 or 1.113
both structures have broken above their B points - double pattern B point breakouts are more powerful than one
these patterns can be considered valid potential harmonic patterns until an upsloping support trendline is broken
9-13-20 ema crossing 50/100 emas and pointing at 60 degree angle (showing strength) - working on getting above 200ema
indicators have room to run, personally would add 25% of overall position at current levels and would add full position on pullback, its personal preference, but 406 on SPY is programmed in time
entry 379
stop 362
target 404
r/r 1.6:1 probability of success: high
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.