- After 2016 1st trade, noticed S&P500 formed a consolidation. Initially this pattern resembled an inverse head and shoulder pattern. (Pattern below blue line) When pricing spiked down suddenly then recovered quickly, I was impressed with this strength
- On 7/8/16, I entered into S&P 500 funds when it broke above this consolidation (Blue callout). Since this trading day ended near high of the day, it indicated strength
- On 8/1/16 sold about 50% shares for profit when trend stop rising. I decided selling 50% since trend was weak. Looking back, it was the correct decision.
- The rise was short
- On 9/9/16, there was a massive drop, I sold another 25% shares with 25% reminder left
- On 9/13/16, sold rest when the trend didn't recover or bounce up.
- The pricing recovered briefly then had a massive drop before the 2016 election that setup for my 3rd trade (see lower chart).
Overall, I think the entry had promise after the consolidation. Trade didn't work out. Let me know what you by commenting below:
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