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Mac2302
Nov 23, 2021 9:03 PM

SPY tommorow trade idea Short

SPDR S&P 500 ETF TRUSTArca

Description

SPY may lokely see a draw down to completed wave-4 on longer term

Comment

This is a flat correction, watch for rejection around 469.xx for final draw down

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Hope you enjoyed the today's draw down which was 150% prfit in options market.

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Upside target reached!!

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Time for our downside target

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Revised Outlook

Trade closed: target reached

Hope you enjoyed the entire downmove :)
Comments
samitrading
Nice charts buddy. Just one point your W4 passed 50% retracement of W3 that's a no no rule.
Shortatwill
@samitrading, cause its wave 2 not 4
Mac2302
@Shortatwill, Thanks, i agree to a certain point, will see how it develops
Mac2302
@samitrading, Thanks for the suggestion, W3 can retrace b/w 38.2 and (sometimes) 50%, but sure, price trend will tell. appreciate your comments, keep them coming.
bdbandit
Mmmm that would get me pretty moist because i am in position
Shortatwill
Whats the downside target
Mac2302
@Shortatwill, you have to wait for confirmation, it is still not there yet; nonetheless i have indicated the same inthe chart
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