ScottCarney

Financial ETF Bearish Deep Crab w/ Warning Signs

AMEX:XLF   SPDR Select Sector Fund - Financial
Here is a perfect example of a harmonic pattern but not a harmonic pattern opportunity! An ideal Deep Crab that has many WARNING SIGNS. The Terminal Bar (the exact completion point in the PRZ) and RSI condition are less than ideal. Also, Harmonic Traders must understand that the EXECUTION PHASE of any harmonic pattern OPPORTUNITY does not begin until Terminal Bar+1. So, we look for a potential short next week but with much skepticism for the bears!

Anyone who promotes a "set&forget" strategy dismisses the discipline required to make the critical assessments that can avoid flawed harmonic patterns. 80% of all harmonic pattern losses can be avoided BEFORE the trade is even executed.

Scott Carney
www.HarmonicTrader.com
Founder
Pernyataan Penyangkalan

Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.