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Thursday, October 15, 2015

Now Im in trouble

I missed a signal yesterday: a second double hammer reversal, which told me that the previous double hammer reversal got cancelled, and a new reversal pattern going the other way is the direction.
Here's what happened:

I saw a reversal pattern, which suggested a drop. But the very next day candle showed up, and this new candle in combination of the days before candle now showed ANOTHER reversal, this time to the upside.
So that screws me over very nicely, seeing I have a shitload of puts out there. My only hope at this point is the fed says something messed up to get things dropping again. Also, the long term QQQ is looking dismal, as in there is going to be a crash soon:

You can see that there is some blips that are starting to happen. Note how the two indicators have been steadily dropping, the top RSI and the bottom MACD. The candle chart has been climbing, this is known as divergence. Almost always, the candlestick charts will turn around and start following the indicators.

We will see how I will get out of this one, this should be interesting. I am going to have to go over all my positions and see where Im at.

Tradinginsider

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