MajorHunter

SPY close to demand and FOMC wind in the sails

AMEX:SPY   SPDR S&P 500 ETF
The trade setup is based on my normal discretionary tradesetups I use every day for all markets . The methodology is based on identifying where there have been an abnormal unbalance between supply and demand. This zones are low risk high reward areas for taking trades as this is normally footprints of institutional buying taking place and where there is objectivly based on price analyses is still willing buyers.

The setup is more likely to work out if we see a break/close of 202,40 before a pullback to demand and entry.

First target is below the first likely supply level 201,72. We try to achive an T2 at higher timeframe supply based on the break of 202,50.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out