Category Archives: Trade Setups

Again, Head & Shoulder Pattern Should Be Tossed

I’ve mentioned it before, but I’ll mention it again.  Head & shoulder pattern is so unreliable that it’s only useful by the pros to manipulate retail traders. INFN was up 10.4% after hours at 8.05.  Fortunately, this was a story … Continue reading

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CPST Setup

I held CPST in my IRA account in the 1.20’s since Janurary of 2011.  I exited the majority of my shares at 1.67 and again at 2.00.   I held the remaining 1,500 shares and forgot about it.   Today, … Continue reading

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Head & Shoulder Pattern Should be Removed From the Chart Book

The success rate of head & shoulder patter is laughable. We all remember the head & shoulder pattern discussed on the media back in 2010 in fear of double dip recession.   Well, it never materialize.  As a matter of … Continue reading

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Rectangle Targets

Rectangle targets represents 100% Fib extension, and we can experience it everyday in the intraday charts.  They are certainly equally applicable on the daily charts. Today the SPY reached the target of 131.50 as my Market View from last weekend suggested. … Continue reading

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MACD Divergence – DECK Double Bottom on the 60 Minute

I held a DECK overnight position because as the afternoon selloff ensued, the MACD on the 60 minute continued to rise.  This morning the market had a red gap down, and continued lower as was the time of this writing, … Continue reading

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52 Week High Happened to be the SPY Inverse Head & Shoulder Target

The SPY broke the multi-month wedge to the upside, and could be playing out an inverse head & shoulder pattern.  If that’s indeed the case, the target would be 137 (see 2nd blue square), coinciding with the May 2010 high … Continue reading

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