Friday’s trade aimed for a bullish range breakout but ended in a grind.
A misstep while trading on mobile led to a suboptimal position. By rolling the position effectively, I turned what could’ve been a full loss into a break-even outcome.
While not a profit, it’s a win in the grand scheme—sometimes it’s about managing losses, not just chasing gains. ☕
...The S&P 500 (SPX) is flirting with new all-time highs, settling into a familiar trading range. I’m maintaining a bullish stance, I’m on the lookout for upward reversals and breakouts.
Current bullish income swings are nearing their target exits.
...Last week’s SPX breakout invalidated the island reversal pattern, frustrating unprepared bears. This highlights why mechanical trading systems outperform discretionary setups.
The “Tag ‘n Turn” setup from the SPX Income System delivered steady profits, reinforcing a bullish bias.
As SPX inches toward new all-time highs, staying disciplined with tested setups, rather than relying on outdated patterns, remains key.
...Thursday’s consolidation break unfolded as expected, triggering a breakout pullback setup.
A “pulse bar” signaled entry into a 1-DTE income trade, which yielded an 88.9% return overnight.
Two bullish income swings remain open, poised for more gains as the bullish bias continues.
...The short-lived range on SPX may now be evolving into an angled, rising channel, with bullish bias firmly intact.
Futures dipped 20 points overnight, suggesting a potential gap lower before trading higher by day’s end.
Market internals like $ADD signal a pullback might come first. For now, my income system remains focused on bullish setups while awaiting targets and new entries.
As the week winds down, I’m signing off early for good food, 80s tunes, and maybe one more profit target hit. Time to trade smart, then party smarter!
...SPX enters another contraction phase, with Bollinger Bands signaling a “pinch point.”
I’m bullish for a change, expecting new all-time highs by year’s end. The 6 Money-Making Patterns guide my short-term trades: trade the range or wait for the breakout.
News events this week could shake things up, but my long-term outlook remains optimistic.
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