I have changed the color theme on my chart and removed everything I could to make it clear for those who are having troubles reading my charts.
Look what I just saw!
Let me introduce a possible pathway after tomorrows FOMC announcement.
On June 15th we have spike up and had a big range day. Then next day the price gaped down and made new lows.
I see kinda similar pathway were we either make a new low in am - 3802-17 and maybe 3795, then rally up to 3925-65SPX level to make a right shoulder. (I prefer 3955-65 in case we see low of 3800 in am)
Then the price can start moving fast and get below 3700 even by Friday, bottoming on the 27th in Tuesday turn around structure.
That low can be as deep as 3500! I have fibs supporting this possible move down from 3680 to 3500
So my plan for tomorrow, exit shorts (partly) in am and go long for a FOMC squeeze. Then short the close and hold into the 27th low.
Please do your own risk management as the price can be very volatile and will take both sides in stops (been there done that)
22nd is a reversal day of whatever day we get tomorrow and should bottom or top on the 27th. So if in fact we see selling after the FOMC, then I will be looking for a long at the end of the day instead of shorting the hole.
- 3802-17, 3752 and 3721 are the support levels to watch!
I will leave this right here.
Feel free to share this update with anyone.
P.S. (Sometimes Im getting interesting comments like my charts make people seizures (those people dont even follow me).
Just want to make it clear, that Im not here to make it pretty, Im not selling a anything to anyone or make money out of my posts. I do post my updates just to share with those who will appreciate that work and use it for their own homework. So please no need to even follow or see my charts if you cant read them, that means you're very new to the markets and need to do more study and learn simple stuff like moving averages, support/resistance lines as well as trendlines etc. All my charts are working progress, please respect that as well as my time)
Look what I just saw!
Let me introduce a possible pathway after tomorrows FOMC announcement.
On June 15th we have spike up and had a big range day. Then next day the price gaped down and made new lows.
I see kinda similar pathway were we either make a new low in am - 3802-17 and maybe 3795, then rally up to 3925-65SPX level to make a right shoulder. (I prefer 3955-65 in case we see low of 3800 in am)
Then the price can start moving fast and get below 3700 even by Friday, bottoming on the 27th in Tuesday turn around structure.
That low can be as deep as 3500! I have fibs supporting this possible move down from 3680 to 3500
So my plan for tomorrow, exit shorts (partly) in am and go long for a FOMC squeeze. Then short the close and hold into the 27th low.
Please do your own risk management as the price can be very volatile and will take both sides in stops (been there done that)
22nd is a reversal day of whatever day we get tomorrow and should bottom or top on the 27th. So if in fact we see selling after the FOMC, then I will be looking for a long at the end of the day instead of shorting the hole.
- 3802-17, 3752 and 3721 are the support levels to watch!
I will leave this right here.
Feel free to share this update with anyone.
P.S. (Sometimes Im getting interesting comments like my charts make people seizures (those people dont even follow me).
Just want to make it clear, that Im not here to make it pretty, Im not selling a anything to anyone or make money out of my posts. I do post my updates just to share with those who will appreciate that work and use it for their own homework. So please no need to even follow or see my charts if you cant read them, that means you're very new to the markets and need to do more study and learn simple stuff like moving averages, support/resistance lines as well as trendlines etc. All my charts are working progress, please respect that as well as my time)