UTX - Feb. 2020 Entry - Another Pattern Failure May 2020
THIS IDEA IS NOT READY YET IMO.
Looking for ideas I came across UTX. I was hoping to play the UTX merger in a bullish way, but the chart pattern is bearish.
We have an ascending wedge looking to end around May 2020 - Same as SMH, AAPL, SPY, and others.
I think we can catch a small rebound inside the white triangle.
My entries are either breakdown of the white ascending triangle, or preferably the rebound at top around Feb. 2020.
I think the Feb. 2020 entry would be the best price position in the pattern for failure.
We should stop at Strong Support. This has held since 1973 which I consider strong.
I will update as this idea develops.
Just throwing it out there since I am seeing an overall pattern develop across multiple sectors.
2yr/10yr inversion was in March 2019. cnbc.com/2019/03/25/the-us-bond-yield-curve-has-inverted-heres-what-it-means.html
We are approaching the 12 month period, where this has predicted a recession with 100% ACCURACY FOR LAST 7 RECESSIONS
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, and VIXY.
Short SPY, ROKU and AAPL. May close ROKU today.
Looking for ideas I came across UTX. I was hoping to play the UTX merger in a bullish way, but the chart pattern is bearish.
We have an ascending wedge looking to end around May 2020 - Same as SMH, AAPL, SPY, and others.
I think we can catch a small rebound inside the white triangle.
My entries are either breakdown of the white ascending triangle, or preferably the rebound at top around Feb. 2020.
I think the Feb. 2020 entry would be the best price position in the pattern for failure.
We should stop at Strong Support. This has held since 1973 which I consider strong.
I will update as this idea develops.
Just throwing it out there since I am seeing an overall pattern develop across multiple sectors.
2yr/10yr inversion was in March 2019. cnbc.com/2019/03/25/the-us-bond-yield-curve-has-inverted-heres-what-it-means.html
We are approaching the 12 month period, where this has predicted a recession with 100% ACCURACY FOR LAST 7 RECESSIONS
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, and VIXY.
Short SPY, ROKU and AAPL. May close ROKU today.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.