mrstockyetoro

πŸ“ˆ Higher Please... 21st November 2022

Long
AMEX:SPY   SPDR S&P 500 ETF TRUST
πŸ–Ό Daily Technical Picture πŸ“ˆ

➀ Equity prices moved side-ways last week. This is good news for the Bulls. As prices have held within a tight range, there is so far no sign of a "Change of Character" or CHoCH.

➀ The CHoCH concept comes from Wyckoff analysis. It describes an abnormal price bar or set of price bars that moves against the recent price trend. A major pause or a change in trend often results from a CHoCH. I do not see this with the current price action. This would infer Buyers are accumulating equities for a push higher. My trading signals agree as I added long positions across the board in all indices that I trade.

➀ Of course, nothing is set in stone, I'll have my fingers close to the exit button in case price action shows a change in the Bullish narrative.

➀ I currently have +102% long exposure in the market. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.

➀ Conclusion: All eyes will be on the Football World Cup but mine are firmly fixed on the Charts. πŸ‘€

πŸ† eToro Popular Investor πŸ’°

βœ… Copy My Trades @ eToro, https://www.etoro.com/people/mrstocky

βœ… Verified Track Record πŸ“ˆ

Not Investment Advice
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