THE FLIP FLOP PATTERN. . .
Have you noticed the change in market behavior from May and June? . . .
I am talking about intangibles . . . not measured by technical analysis. . . but its real . . . and its part of getting a “feel for the market”. . . its part of finding the groove . . . https://medium.com/@homeytel/finding-the-groove-4fb6767c6970
The technical analysis is the same . . . the result is totally different. Remember the Devil’s Horn’s Pattern?. . . . https://medium.com/@homeytel/devils-horn-pattern-95dfa33d15fe
We are getting the same pattern. . . but what’s the difference?
At the first arrow I was a buyer lightly adding to my significant long position. . . the market moved my way. . . reversed . . . and I got stop out of my add-on longs with a small gain at the second arrow . . . the market continued to drop and look like it was headed for a significant correction . . . but stopped. . . but it did not just stop . . . it went back up and took out the high. . . . see the spot market chart below. . .
This pattern has been repeating itself ever since I got blown out of a very large position. . . and when I recognized it I stepped right back in. . . . with only half of what I had . . . . https://medium.com/@homeytel/blowing-out-at-the-bottom-with-a-frown-661ca326375c
I am a buyer at the third arrow. We will likely now resume the uptrend through the moving averages. . . the risk is the lows. . . .let’s see if we can safely navigate through the Death Cross.
Hope this helps.