$SPY 60 min up channel holding. This wk tells story. Chart Notes
This $SPY chart was posted as an "on the fly" algorithmic model chart in advance of trade entering this region of trade.
The proposed channel (uptrend) is holding so far.
In trading price action on Friday the bulls had intra-day notice to trim when price didn't hit the upside Fibonacci resistance intra (red arrow). Trading price on technicals pays off.
The 50 MA was breached and held and is bullish and the channel is in play (until it is perhaps not).
At this point I prefer the upper targets as a simple channel trade, but trading price action always rules. I'm leaning bullish on whole right now because of indicators suggesting the larger sellers have backed off some.
Any questions send me a message anytime.
And please keep in mind this is a rough "on the fly" simple version of algorithmic models we use to trade intra-day - not every line will be perfect to the penny but it is work-able as an intra-day charting tool that will allow for you the trader to know when support and resistance tests are near.
Starting Monday I'll be broadcast live this $SPY set-up and other chart set-ups documenting my process in detail for review w/ daily PL's, video, charting set-ups and alerts.
Previous $SPY chart posted:
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Compound Trading Platform: Algorithm model charting for $SPY, $VIX, #OIL, #GOLD, #SILVER, #Crypto ($BTC Bitcoin, $ETH, $LTC, $XRP,) $DXY US Dollar and Swing Trading Newsletter. Live trading rooms for daytrading and oil traders. Private coaching and live alerts.
The proposed channel (uptrend) is holding so far.
In trading price action on Friday the bulls had intra-day notice to trim when price didn't hit the upside Fibonacci resistance intra (red arrow). Trading price on technicals pays off.
The 50 MA was breached and held and is bullish and the channel is in play (until it is perhaps not).
At this point I prefer the upper targets as a simple channel trade, but trading price action always rules. I'm leaning bullish on whole right now because of indicators suggesting the larger sellers have backed off some.
Any questions send me a message anytime.
And please keep in mind this is a rough "on the fly" simple version of algorithmic models we use to trade intra-day - not every line will be perfect to the penny but it is work-able as an intra-day charting tool that will allow for you the trader to know when support and resistance tests are near.
Starting Monday I'll be broadcast live this $SPY set-up and other chart set-ups documenting my process in detail for review w/ daily PL's, video, charting set-ups and alerts.
Previous $SPY chart posted:
Register to free email list for trade set-ups, webinars, special events: compoundtrading.com/contact/
Website: compoundtrading.com
Free chat room: discord.gg/2HRTk6n
Subscribe: compoundtrading.com/overview-...
Twitter: twitter.com/CompoundTrading
Lead Trader: twitter.com/curtmelonopoly
Tradingview: www.tradingview.com/u/curtmelonopoly/
Facebook: www.facebook.com/compoundtrading/
StockTwits: stocktwits.com/compoundtrading
Email: info@compoundtrading.com
Compound Trading Platform: Algorithm model charting for $SPY, $VIX, #OIL, #GOLD, #SILVER, #Crypto ($BTC Bitcoin, $ETH, $LTC, $XRP,) $DXY US Dollar and Swing Trading Newsletter. Live trading rooms for daytrading and oil traders. Private coaching and live alerts.
Comment:
Structure building here $SPY $SPXL $SPXS $ES_F
Comment:
$SPY. How I nailed exact price and time on this model and alerted the long side in advance of today's #boom. See detailed chart notes. "SPY really had to get some jam to nail that price target in to time cycle peak". #Boom #trading #algorithm #edge
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Compound Trading Group | Founder
New World Ecosystems of Decentralized Finance
#DeFi #MachineTrading #Crypto
New World Ecosystems of Decentralized Finance
#DeFi #MachineTrading #Crypto