SPXS trade ideas
SPXS for brave soulsWheres the bear gang at. Feeling the market is overdue for a correction? here's your chance to buy cheap ass spxs. 3x short etf.
Strictly looking at chart. Trend still down. Last line of defense is where you buy and most likely get one profit target out. EASSSSYYYYY stop loss. R/R over 9
SPXS 23-27 Mar 2020I utilize the weekly data to calculate the Volume Weighted high, and the Volume Weighted low. Then I use these figures independently to calculate the standard deviations. I'm experimenting with this method and theorizing it has multiple facets of usefulness. Of course identifying support and resistance areas is a benefit, but also seeing the variation in the SD's from week to week, how they increase or decrease in relation to their priors, and how the +2 and -2 expand and contract in response to increasing or decreasing volatility on the up or down side. I'll most likely add the +/-3SD to my charting soon. I've been using this method privately for some time and have only just recently begun posting it as earlier experiences with it have been surprisingly successful, and I'm curious about any additional tweaks the community may offer as advice.
WHAT SHOULD NOT BE IGNORED?IN THE LAST WEEK OF FEBRUARY WE SEE A DRAMATIC BETTING AGAINST MARKET AND VOLUME INCREASED 6 TIMES OF AVERAGE OF THE LAST 20 WEEKS.
I THINK MARKETS WILL BEHAVE LIKE ROLLERCOASTER UNTIL 2020 ELECTION BECAUSE WE HAVE CORPORATE TAX CUT ON ONE HAND AND INCREASE CORPORATE TAX ON THE OTHER HAND. FINALLY, THE CORONA VIRUS CAUSED MESS ALL AROUND THE WORLD.
SPXS – Bullish Banana Breakout Confirms SPY DowntrendChart Details
Weekly view shows price touching 10WeekMA. (same as SPY but inverse obviously)
Price cross above 10Week should confirm uptrend to gap fills.
Price above aqua blue line confirms uptrend to EMA cross.
Price above yellow line and look for upper gap fills.
Gaps to fill up to $17
Stop $13
Target $16
Money Patterns member alerts for this trade had lowest entry price of $12.08
Opinion – SPXS has very few unfilled gaps previously. Market overextended. This has good potential to fill gaps in the next few weeks.
Coronavirus fears and reality will sink in. First time in 50 years Americans are quarantined WITHOUT CHOICE when entering the country.
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