False Breakouts? Tag ‘n Turn’s New Ally! | SPX Market Analysis 10th Dec 2024

Ahoy there Trader! ‍‍⚓️

It’s Phil…

Early bird catches the premium! Tuesday kicked off with a sneaky new trade setup I’ve been testing—perfectly in line with the Tag ‘n Turn direction. Spoiler: it’s looking playbook-worthy!

 


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This morning, a new strategy sailed into testing waters—a false ORB setup perfectly aligned with Tag ‘n Turn’s overall direction. What happened next? Well, let’s just say lunchtime came with a 50% payday.

The day started with SPX presenting a juicy opportunity—a potential false breakout reversal. This new setup, currently under review for my strategy playbook, focuses on these moments:

  • When price fakes out in the first hour of trading.
  • Aligns with the broader Tag ‘n Turn direction.

With $3.00 in premium collected, the plan was simple: a quick in-and-out day trade.

By lunchtime, management rules (thanks to my trusty SPX playbook) prompted an early exit. The position was bought back for $1.50, locking in a 50% return.

The best part? All this happened while I was glued to my screen—not the trading charts, but The Jackle. Eddy Redmayne really knows how to steal the show.

Trading doesn’t have to mean stress. With solid setups and a mechanical system, you can profit with precision.


Fun Fact:

SPX’s fastest recovery from a bear market was in 2020. It took just 33 trading days for SPX to recover 50% of its losses after the pandemic-driven crash in March.

Why it matters: This broke records and highlighted how market dynamics are shifting with technology and sentiment moving faster than ever.


Happy trading,

Phil

Less Brain More Gain

…and may your trades be smoother than a cashmere codpiece


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