$SPY $SPXUSD The plan for today (another no plan!) Wait and see.
LEVELS
If we go up again
2598.5 : Yesterday's high, possible scenario because of the
opening level at 61.8% retracement level.
2600-2610 if we have another strong upside.
If we go down
2573.6 : Yesterday's low. If we get there, we will have to watch
the market reaction because it could reverse hard as the last days.
MY PLAN
Wait and see at the open, I prefer the short side but I made my
profits long side this week.
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!
If we go up again
2598.5 : Yesterday's high, possible scenario because of the
opening level at 61.8% retracement level.
2600-2610 if we have another strong upside.
If we go down
2573.6 : Yesterday's low. If we get there, we will have to watch
the market reaction because it could reverse hard as the last days.
MY PLAN
Wait and see at the open, I prefer the short side but I made my
profits long side this week.
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!
Trade active:
LONG 2583.73
Trade closed: stop reached:
Closed for a loss
Trade active:
SHORT 2581.28 medium size
Trade closed manually:
STOP 0
Trade active:
LONG 2580.56
Trade closed: stop reached:
All out, red day.
My ideas are published at first for following my journey, if you like it, it's perfect but don't assume I am right, do you own research.
Feel free to contact me and follow my twitter, the more we are, the stronger we will be!
Feel free to contact me and follow my twitter, the more we are, the stronger we will be!