Short

$SPX Repost - Finally Hit Entry 3595 (Original Idea Linked)

Updated

I'm going to point to the original breakdown of the this idea to my related ideas. The continued added comments in the linked idea were just price reading along the way from the time I called this price until now. Now that we've finally entered the trade at 3595, I'll continue the rest on this of the analysis on this idea as it slides down and what I plan to do and distribution of lots. The differences between this idea and the original idea is that I replaced the fib, This ideas fib is that the 100% is now the old 62%. And that I've also added a second, riskier entry at 3602 with a tighter stop loss at 3614. The original Idea has the entry at 3595 which we hit just before close, stop loss at 3630.8. Both have expected sells to 3439.5. However, on this idea, I'll be sharing percentages of lot sizes I'll be shaving off as profit at different parts of the trade on the way down, as well as trying to add more positions or find scalps within this trade. I still think there's a strong possibility that it could reach 3602 and the explanation is in the linked idea. I found a stand alone Breaker in the price action at that point that could prove to be the real fake out price since 3595 seems a bit too obvious and I don't think Smart Money is going to play that game. There's also a possibility it could find itself at 3655 or 3669 in which if I get my S/L hit early in this Trade then that's where I will be looking for price to go next before I plan to make a long term sell.

But then again what do I know, I'm just some dude that likes sharing his Ideas. I could be COMPLETELY WRONG. But that's how we all learn isn't it?

Note

First, I wanted to show the correlation between the CRB Rueters /Jeffries Commidity Index and how it has already peaked and is sliding down. The commodity index is usually in tandem with the stock index except commodities are just a step ahead. As you can see the CRB has made a peak and is starting to fall. There's also divergence in the commodity index and the SPX which tells me the huge spike was the SPX being in oversold conditions. Meaning we're probably getting there again as it has made another spike as the index has been sliding.

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Keeping an eye on the 1 MIN chart, yes, 1 MIN, I'm looking at the initial range it made then the second range got a little wider, which tells me it's seeking liquidity. I think eventually it will find it lower.

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3 times it has reached 3616.1. I'm pretty sure that's a dead give-away it's going to break that that short term high. It may not break it by much, but I think it's definitely going to break it.

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Alright... welll. I am expecting it to break this triangle higher. Probably uip to 3625 if I had to guess. There's a particular way to measure the TP's for Triangle's. Measure the swing lows to the resistance line, in this case 3616.1 since it's now hit that line 4 times, and then make that distance symmetrical above the resistance line. The lowest swing low's symmetrical equality is about 3625. This is making it too close for comfort on my Stop loss, but I'm having faith when the London session kicks in.

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Odd prediction, it will not bounce at 3616.1, it will go lower to 3610-3609 before bouncing.

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It hit the TP1 of the triangle I proposed before falling at about 12:15 A.m. NY time U.S.

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So that didn't happen, yet. But they did design something pretty significant. Broke through the resistance made it support. Theoretically. Just before the London session. It did this to take out the tight stop losses set just above the 3616.1, trigger Buy stops set above, people that thought it was going to sell are now closing orders and going into buy mode and others are putting in sell-stops. So, smart money would then break the support triggering the sell-stops, run price up and take them out While simultaneously making people that are buying switch to sell and set a short stop loss about where the high is now, then turn and run the price above that, and then sell. It's engineered quite perfectly

Trade closed: stop reached

and fail

Note

Let's follow Price Action. Should start to drop here at 3622

Note

Down to 3612

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Bouncing between Order Blocks

BodiesXWix

You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.

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$SPX Fake Out - Has Yet To Reach Full Extension On Sell

by BodiesXWix

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