CaperAsh

Volume Profile set up on SPY 5 min

AMEX:SPY   SPDR S&P 500 ETF
329 5 1
13:45 YOu can see a POC             forming around 182. 64. But also you can see that there are more shorts than longs, and also there is a larger POC             up above from yesterday around 184.07.

It is quite possible that the new shorts are going to get trapped if/when the market corrects back vfrom here to the Magenta VWAP around 182.7 just below Ichimoku Cloud , but then if the new POC             doesn't hold, could see a strong run back up to old 184.07 level to fill that gap. This is also a clear setup in 30 min timeframe and I left comment on that.

So the idea is to buy NOW and more lower in expectation of AT LEAST a pullback to current VWAP and POC             around 182.64. It is almost impossible that such a pullback won't happen today-tomorrow unless there is some sort of earth-shaking development of course.
CaperAsh
2 years ago
THis is supposed to be a LONG comment.
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CaperAsh
2 years ago
14:05 - first Heikin Ashi turns up on 5 min, buy signal with initial tgt at VWAP around 182.64 (magenta dots)
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CaperAsh
2 years ago
15:35 Mkt went through now lower VWAP and hit the POC white line as published above at 192.6 level. Good call!!
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hakunamatata
2 years ago
Appreciate your analysis. Very good call and on the money !!!
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CaperAsh
2 years ago
17:01: within one minute of official market close, post-market SPY spikes to upper POC mentioned in opening post to 184.07 level. Amazing! I highly recommend those PRO premium volume tools. You can see things with them that you cannot see with price action bars alone.
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