marttrader

$SPY $SPX Just one level today : 2623. My plan

FOREXCOM:SPXUSD   US SP 500 CFD
As I still think we are in a daily consolidation to go back down, FIB levels are about to tell us if they are right today! If you followed my last month ideas, you know I am short on indices but I mainly profited on the long side.
So for today, it's possible that I take trades to the long side if the setups are there. But I will really be waiting for 2623 as my level of reversal.

LEVELS
Very important level is 2623. It's 100% of
the last impulse AND it's 61.8% retracement
of the impulse down (daily).
This level could be the reversal point of the
daily consolidation.

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 16
Trade active: LONG 2616.73
Jan 16
Trade closed: target reached: CLOSE 2621.79 good trade!
Jan 16
Trade active: SHORT 2620.78
Jan 16
Comment: Starts to work, took long time, stop 0, don't want to risk my today's profit.
Jan 16
Trade closed: stop reached: Stop 0, should have taken profit.
Jan 16
Trade active: LONG 2619.53
VWAP play
Jan 16
Comment: STOP 0, target high of the day.
Jan 16
Trade closed: stop reached: Stop 0 again...
Jan 16
Trade active: SHORT 2617.28 bad entry, I have to play safe on this one...
Jan 16
Trade closed manually: Close for a very small profit, don't trust my entry.
Jan 16
Trade active: LONG 2616.54 back to VWAP play, short scalp.
Jan 16
Comment: Stop 0, protecting capital mode.
Jan 16
Trade closed manually: OUT flat
Jan 16
Trade active: SHORT 2618.78
Jan 16
Trade closed manually: Close for a loss.
Jan 16
Trade active: SHORT 2625.03
Jan 16
Comment: STOP 0 and hope this is the right time for the reversal!
Jan 17
Trade closed manually: Keep a position overnight and closed it this morning with a nice profit, finally recovering my yesterday's losses!

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