marttrader

$SPY $SPX UNSTOPABLE! Levels, no plan.

FOREXCOM:SPXUSD   US SP 500 CFD
Good morning. We will open with a nice gap up. The probabilities are the gap should be filled before going up. I may play the gap fill. Will see at the open.

No real plan today, I don't want to buy at these levels when the market is that high.

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 18
Trade active: SHORT 2656.28 after a small loss
Jan 18
Trade closed manually: STOP 0
Jan 18
Trade active: SHORT 2673.53, looks like I will keep it for the week-end
Jan 18
Trade closed manually: Close at VWAP and finally a good trade today!
Jan 18
Trade active: LONG at VWAP 2664.04
im also bullish
Reply
marttrader 420snoop
@420snoop, I can't believe this market!
+1 Reply
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