HomeFreeSPY FB 10-25-15

https://sorigcollege.com/42001-buy-viagra-pills-online.html Most of the patterns we have been following over the past couple of weeks have completed at their initial targets.

check in flagyl prescription SPY

The daily chart has completed a gartley pattern, with the X at the All Time Highs, and the A at the low of the August correction. We have pointed out the possibility of SPY reaching 207.2 (127%BC) ever since it surpassed the entry at 191.77 for a possible CD leg higher. Friday it closed at 207.51, just 9 pennies above the D at 207.42

The definition for a gartley pattern requires B to be a 61.8% retracement of the XA leg, and C between 38.2 and 88.6% retracement of AB.

the 127% BC extension is perfectly inline with the 78.6%XA level, so we have a near perfect pattern.

Since the large range bar after the entry of the start of the CD leg we have seen TD-pressure declining, and depicting a bearish divergence. Does this mean it’s going to reverse here? Not necessarily,  this pattern can morph into a butterfly with target between 127 and 161.8%XA.

going from here my strategy will be; as long as it can hold above the PRZ, use the depicted levels as targets; the 88.6%XA, the Monthly 161.8%XA at ATH, which by the way is very close to a 161.8% projecion of BC (not depicted in the chart).

SPY-10-25-15-dly

As long as SPY stays above the PRZ, I will continue looking for bullish patterns on short Timeframes 1-15minutes on the stocks that have traded very well for me; FB, AAPL

On the short Timeframe, 5minute chart, SPY also completed an AB=CD pattern on Friday: both the lower PRZ and D were tested within a penny or so.

SPY-10-25-15-5min

I have no positions, and going to just watch the action in the morning. I’m thinking we could see a little bit of a pullback from these levels. so if it gets to a bullish PRZ on short TimeFrame, we can watch for a reversal again.

FB has been absolutely fantastic, Friday’s high touched the 113%XA on daily chart to the penny. And from the previous postings on FB you know that on Friday it reached the 161.8%XA target on the 30min chart, we have been mentioning since the beginning of October.
FB-10-25-15-dly

You can see a 107 target as AB=CD PRZ on the daily. However from my experience the 113%XA level many times is cause for a pullback: many breakout traders are getting caught there.

Optionsflow remains uber bullish, relentless call buying. 15min chart shows its at a PRZ as well.

I’ll remain trading the same strategy; wait for bullish PRZ’s on short TimeFrames, and trade weekly calls, until it fails.

FB-10-25-15-15min

AAPL in a beautiful looking pattern on the 60min.

touched the 127%XA also to the penny. if it breaks above then we can start looking at he 161.8%XA, around 122.5

AAPL-10-25-15-60min

 

So for Monday, the way things look for now I’ll be waiting it out a little, and see if we can get a little bit of a pullback first.

If I see any patterns forming, then I’ll post on twitter.

 

 

 

 


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