SPY
December 21, 2023 15 Minutes.
Once more.
SPY
gave a Wednesday/Thursday trade setup. Price action gave us a setup that closed below 471.8 we have to sell.
So if we go to a lower time frame 5 minutes chart We can see moving averages sloping up, 9,21,50 averages broke, took support at 100, bounced back, and once broke 100 averages on the downside sell triggered.
We were supported by the Elliott oscillator Red, the stochastic black bar at the bottom, and CCI Red. target 200 averages around 468 levels.
For the day We will wait for a retracement to 471.5 to 472.5 levels SL 474.25 to continue selling.