5-3 Elliot Cycle completion completing within a horizontal channel.
Start of Wave 1?
RSI > 50
Entry on a clean break above resistance line. Target the height of channel.
SL zone shown
*Not Financial Advice*
SPX has gone to far on fake in decreasing economy outlook 2019
1) No rate cut FED
2) Economic war ongoing China/Iran
3) Overbounght D1-H4
5) Asian markets and Europe are still not following
6) Goldprise rising.
I expect sonn a hard 3-4 day drop.
Targets are first to erase the huge raise in the last weeks since June 2019.
The chart depicts how the trading plans published in the morning - idea published on TradingView at 9:52am - tracked the market action. You can read the detailed results tracking at our site tradersAI.
Hope you all had a good trading day, and if not, remember that tomorrow is another day of opportunity to utilize the lessons learned and the experience gained....
Mid // Longterm Outlook
Bearish Momemtum continues within the stock market // Indices.
We are looking for the scenario below to occur within the Mid to Longterm for the SP500.
Confluence within this area being //
- 0.5 Fib retracement via our entire Rally
- Daily Demand
- 200 EMA Support
I will be a short term bull once we enter the 2635 range....
The S&P 500 E-mini Futures Daily time
frame is in an up swing with a fib extension
price point 3022.75 about +692 ticks away.
The Daily time frame is at a low price and
at the back side of the old down trend line.
I am going to turn to the smaller time frames
and will look for up fib wave movements and
buying trades towards the daily target.
SP500 Futures are sitting right on the 50MA at approximately 2862 this morning before the open. Striking similarities with the 2018 fractal. The market topped, paused briefly on the 50MA. Upon breaking the 50MA, the market plummetted nearly 392bps in a single session on a red 5 candle (TD indicator), which is exactly what it's setting up to do now. If the 50MA is...
SP500 QQQ ETF supply and demand analysis and forecast for 22nd April 2019. SP500 SPY ETF is trying to break weekly supply at all time highs around 293.
There is a clear long term weekly and monthly uptrend with all time highs previously eliminated and brand new demand zones created on bigger timeframes like the one on the weekly timeframe around 281.
As can be seen in the graph above, resistance has been breached and as you know we have a simple rule if support or resistance breaks it is very good to enter the market in this case we recommend buying with a target price of 2940 At this price, the sp500 will have a real test and we will see whether it will pass it successfully or that it has created a double top...
Hello to all who watch my charts.
Contrary to the opinion of many here is in my view S & P 500 a Long Setup.
As you can see we had it at the beginning of March
a short trend which I marked with the orange trend lines.
Now, however, the index has risen above all short resistance and has both major resistance levels
which I marked purple. In the near future no...