SPY simple chart analysis: following previous post idea
Elliot Wave finished forming the A of ABC correction just on the fourth wave of giant minor E.W. D1 t.f.. Two sets of abcde waves finished and builded a complete smaller abc correction, giving open doors for a bullish momentum.
Note: I sugest to not take this trade if you are starting it😋.
- Trend still can continue until 300% of E.W. fibonacci.
- fibonacci is between the 0 and 2 of E.W., starting from 50% instead of 0.
- It already passed atractive channel giving opportunity for sideways.
Note: I sugest to not take this trade if you are starting it😋.
Trade active:
Already reached fifth peak. Taking sell now is risky because ETF charts tends to enlarge trends. I'll start the operation, but you can wait for a second red candle and then start selling.
Two red candles in a consecutive seven green candles is a reverse pattern. Remember to always be alert. Trade wise guys.
Already reached fifth peak. Taking sell now is risky because ETF charts tends to enlarge trends. I'll start the operation, but you can wait for a second red candle and then start selling.
Two red candles in a consecutive seven green candles is a reverse pattern. Remember to always be alert. Trade wise guys.
Trade closed: stop reached:
