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Trading_Off_The_Charts
May 7, 2018 7:13 PM

Daily extremely bearish  Short

US SPX 500OANDA

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details on chart

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shorted here at the .618% fib level

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potential retrace set up worth monitoring

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heavy retrace needed

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watching the .50% fib level 2691 could bounce.. top red level if over taken price action will cont. to climb..
this the 18 min chart. I'm using it along w/ the 18/200 AD and smart money index. Smart Money hasn't completely left the market yet

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i'll be back in cash before NY open

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bullish hold from overnight,

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1hr explosion

Trade closed manually

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flag above?

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smart money dumping on spy 18min will monitor power hour

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not recommending a trade at all. I want to point out that smart money is still deciding while retail is chasing

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back to monitoring short positon based on potential bearish inverted cup/handle
Comments
Ctho223
We use ELLIOT wave. If we pass 2692 snp is going higher.
aebeekers
Hi there, I am a newbie with a question. What is the white line you are highlighting at the fib resistances?
Bullriderr
@aebeeson, the accumulation/distribution line.
aebeekers
@Bullriderr, thanks!
Trading_Off_The_Charts
@Bullriderr, shhhhhhhhhhhh
Trading_Off_The_Charts
@Trading_Off_The_Charts, teasing. Glad you recognize it. Trade Well my friend.
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