SPY ANALYSIS 5/1 with sample trade
here is a trade idea that is a continuation of my previous idea. The idea will be invalidated if Wave 5 high breaks (Stoploss), I can see the market going down from here into at least the 3800 range!
Feel free to take a look at my macro analysis for a broader understanding of the market structure.
Right now in the 15 minute, a head and shoulder pattern formed with a broken neckline, which was my entry for the trade. My target is in the 4100-4100 region, with a lower target in the 3850 region.
The FOMC meeting on Wednesday at 2:00 will probably cause a huge spike to the upside to destroy shorts and then it will resume the downward trend in my opinion.
Comment you feedback I love to learn and answer questions!
Feel free to take a look at my macro analysis for a broader understanding of the market structure.
Right now in the 15 minute, a head and shoulder pattern formed with a broken neckline, which was my entry for the trade. My target is in the 4100-4100 region, with a lower target in the 3850 region.
The FOMC meeting on Wednesday at 2:00 will probably cause a huge spike to the upside to destroy shorts and then it will resume the downward trend in my opinion.
Comment you feedback I love to learn and answer questions!
Trade closed: target reached:
This trade went exactly as planned, now I am looking for further shorting opportunities after ABC retracement, into supply zone.
I am also waiting for FOMC meeting at 2:00 Wednesday, for a big move
I am also waiting for FOMC meeting at 2:00 Wednesday, for a big move
Trade closed: target reached:
Target reached, great R:R play, Follow and like for more!