20 day moving average on 20 day shows 7800: THUS BEING SAID, in May we attempted to breach 8000 but bounced off 8100.
This tells me there was a reversal in trend change and we're on the way to a new ALL TIME HIGH by the end of 2021.
If you don't stay true to your original trading plan you've already failed before you even get to see one of your TP's.
Thus being said, trust your first initial perspective on the market.
Your mind is your biggest asset plus indicator.
Stocks are going to be green on Monday considering SPX-500 is so strong and closed above major resistance creating a breakout.
Survive the weekend scam wicks & chill out.
Staring at price action for 10 hours won't make your TP's come faster, enjoy your weekend.
New alphabet strategy coming into play: we'll see how the weekend price action reacts and go from there.
Don't FOMO short a potentially reversal in market trend (bullish market)
Remember to be aware of weekend scam wicks in both directions, and it looks like this morning we might've seen the drop. SO, we might see some upside price action today. Or maybe the...
SPX breaking out upwards paints a clear picture for me when it comes to visualizing price action...HOWEVER:
It's now the weekend peeps, thus being said take more cautious steps when trading. Use lev leverage, lower amounts on initial entry, and stick to the plan.
Enjoy your weekend, CHEERS.
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Spx500 closed above the major resistance line and held going into the weekend.
Remember trading on weekends is 5x more dangerous than the rest of the week due to the lack liquidity.
Be safe, stick to your trading plan, and most of all enjoy your weekend.
This is a mind game played by top whales with millions & millions. The second you think the market is going to go one way, it tends to go the other...why you ask? Whales move the market in the direction that most of "traders", retail, FED, and other parties are routing for it to go. A simple reversal is all it takes for your previous bias to be wiped away in 2...
Macro timeframes at lows in oscillators + halving + already 2 months consolidation in the 9ks => it's gonna pop up eventually, just a waiting game.
SMASH that like button if you appreciate this chart, or perhaps drop a comment below.
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REMEMBER: Always stick to your trading plan, adjust to new price action, as well as ensure you don't let the high volatility get you emotional because you'll start making irrational decisions. Staying in the middle mentally is the best way to gain profits. Don't get cocky....or feel insecure about your positions.....be confident and be open to the idea of things...
Structural integrity paints a very clear picture for me: we need to see at least 9188 in order for any bullish momemtum to contunue. NOTHING goes straight up or down (well sometimes lol), however in this case macro levels are bearish but if bulls want a shot to break 9500 we need to test EMA levels and key support area's otherwise we'll be ranging going sideways...