$SPY $SPX Just one level today : 2623. My plan
As I still think we are in a daily consolidation to go back down, FIB levels are about to tell us if they are right today! If you followed my last month ideas, you know I am short on indices but I mainly profited on the long side.
So for today, it's possible that I take trades to the long side if the setups are there. But I will really be waiting for 2623 as my level of reversal.
LEVELS
Very important level is 2623. It's 100% of
the last impulse AND it's 61.8% retracement
of the impulse down (daily).
This level could be the reversal point of the
daily consolidation.
CHART COLORS:
GREEN = WEEKLY & GREATER ---- BLUE = DAILY ---- PINK = H4 ---- PURPLE = H1
CHART LINES AND ARROWS: SOLID = PAST MOVE ---- DOTTED = ANTICIPATED MOVE
MY TRADING STYLE
I took a lot of time learning Elliot waves and it changed the way I look at charts. It’s much clearer when you know where the market is potentially going. I don’t believe in moving averages theories, candle pattern or other “magic” indicators. I only need one to see divergences. If you trade the “patterns” like “head and shoulder”, “double bottom” or everything else, it’s OK with me because most of the time it fits in the waves count.
The hard part is to catch the strong moves, it’s easy to get lost in consolidation. My way to do is to analyse many timeframes, in a daily consolidation we can catch strong moves in H4 or H1. Same in weekly consolidation, strong move in D1.
NOTE
I do not give advice to buy or sell. I just want to document my journey and interact with other traders. All the levels mentioned are approximative, it can be higher or lower. I am often wrong but I try as hard as I can to cut the losses quickly.
You can reach me on social media, the one with the bird, I am marttrader!
So for today, it's possible that I take trades to the long side if the setups are there. But I will really be waiting for 2623 as my level of reversal.
LEVELS
Very important level is 2623. It's 100% of
the last impulse AND it's 61.8% retracement
of the impulse down (daily).
This level could be the reversal point of the
daily consolidation.
CHART COLORS:
GREEN = WEEKLY & GREATER ---- BLUE = DAILY ---- PINK = H4 ---- PURPLE = H1
CHART LINES AND ARROWS: SOLID = PAST MOVE ---- DOTTED = ANTICIPATED MOVE
MY TRADING STYLE
I took a lot of time learning Elliot waves and it changed the way I look at charts. It’s much clearer when you know where the market is potentially going. I don’t believe in moving averages theories, candle pattern or other “magic” indicators. I only need one to see divergences. If you trade the “patterns” like “head and shoulder”, “double bottom” or everything else, it’s OK with me because most of the time it fits in the waves count.
The hard part is to catch the strong moves, it’s easy to get lost in consolidation. My way to do is to analyse many timeframes, in a daily consolidation we can catch strong moves in H4 or H1. Same in weekly consolidation, strong move in D1.
NOTE
I do not give advice to buy or sell. I just want to document my journey and interact with other traders. All the levels mentioned are approximative, it can be higher or lower. I am often wrong but I try as hard as I can to cut the losses quickly.
You can reach me on social media, the one with the bird, I am marttrader!
Transaction en cours:
LONG 2616.73
Trade fermée: cible de profit atteinte:
CLOSE 2621.79 good trade!
Transaction en cours:
SHORT 2620.78
Commentaire:
Starts to work, took long time, stop 0, don't want to risk my today's profit.
Trade fermée: ordre d’arrêt atteint:
Stop 0, should have taken profit.
Transaction en cours:
LONG 2619.53
VWAP play
VWAP play
Commentaire:
STOP 0, target high of the day.
Trade fermée: ordre d’arrêt atteint:
Stop 0 again...
Transaction en cours:
SHORT 2617.28 bad entry, I have to play safe on this one...
Trade fermée manuellement:
Close for a very small profit, don't trust my entry.
Transaction en cours:
LONG 2616.54 back to VWAP play, short scalp.
Commentaire:
Stop 0, protecting capital mode.
Trade fermée manuellement:
OUT flat
Transaction en cours:
SHORT 2618.78
Trade fermée manuellement:
Close for a loss.
Transaction en cours:
SHORT 2625.03
Commentaire:
STOP 0 and hope this is the right time for the reversal!
Trade fermée manuellement:
Keep a position overnight and closed it this morning with a nice profit, finally recovering my yesterday's losses!
My ideas are published at first for following my journey, if you like it, it's perfect but don't assume I am right, do you own research.
Feel free to contact me and follow my twitter, the more we are, the stronger we will be!
Feel free to contact me and follow my twitter, the more we are, the stronger we will be!