marttrader

SPX #SP500 My levels if we go down again.

FOREXCOM:SPXUSD   US SP 500 CFD
There are my levels if we continue to the downside today. I think it may be a slow day, without direction, I would not be surprised if we stay inside the yesterday's candle. I will wait for a good set-up in M5 before to do something.

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!
Dec 21
Comment: I notice often that in a daily downtrend, a strong upside premarket generally leads to a sell off when we hit important level, this level could be 2497 this morning, or 2500 if you want a support or resistance.
Dec 21
Trade active: LONG at 2439.5. Usually a desperation candle at the lows is followed by a sharp reversal.
Dec 21
Trade closed manually: Closed at 2453 for a profit

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