SPY simple chart analysis: following previous post idea
Updated
Elliot Wave finished forming the A of ABC correction just on the fourth wave of giant minor E.W. D1 t.f.. Two sets of abcde waves finished and builded a complete smaller abc correction, giving open doors for a bullish momentum.
Note: I sugest to not take this trade if you are starting it😋.
- Trend still can continue until 300% of E.W. fibonacci.
- fibonacci is between the 0 and 2 of E.W., starting from 50% instead of 0.
- It already passed atractive channel giving opportunity for sideways.
Note: I sugest to not take this trade if you are starting it😋.
Trade active
Already reached fifth peak. Taking sell now is risky because ETF charts tends to enlarge trends. I'll start the operation, but you can wait for a second red candle and then start selling.
Two red candles in a consecutive seven green candles is a reverse pattern. Remember to always be alert. Trade wise guys.
Trade closed: stop reached
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