marttrader

SP500 my plan for today

FOREXCOM:SPXUSD   US SP 500 CFD
With this huge move from Friday, I think the SP500 will go higher, not sure I will take position long but will see. I see a low after the open and then the up move will continue.
I will updated the idea while it moves.

CHART COLORS:
GREEN = WEEKLY & GREATER ---- BLUE = DAILY ---- PINK = H4 ---- PURPLE = H1
CHART LINES AND ARROWS: SOLID = PAST MOVE ---- DOTTED = ANTICIPATED MOVE
MY TRADING STYLE
I took a lot of time learning Elliot waves and it changed the way I look at charts. It’s much clearer when you know where the market is potentially going. I don’t believe in moving averages theories, candle pattern or other “magic” indicators. I only need one to see divergences. If you trade the “patterns” like “head and shoulder”, “double bottom” or everything else, it’s OK with me because most of the time it fits in the waves count.
The hard part is to catch the strong moves, it’s easy to get lost in consolidation. My way to do is to analyse many timeframes, in a daily consolidation we can catch strong moves in H4 or H1. Same in weekly consolidation, strong move in D1.
NOTE
I do not give advice to buy or sell. I just want to document my journey and interact with other traders. All the levels mentioned are approximative, it can be higher or lower. I am often wrong but I try as hard as I can to cut the losses quickly.
You can reach me on social media, the one with the bird, I am marttrader!
Jan 07
Trade active: SHORT 2530.7
Jan 07
Comment: STOP 0, wait and see what happens at 2523
Jan 07
Trade closed: stop reached: OUT FLAT, wait and see
Jan 07
Trade active: LONG 2534.26
Jan 07
Comment: STOP 0, target 2550
Jan 07
Trade closed: target reached: Close at 2548.11 with profit

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