Analysis of S&P500 (2022-02-10)
Read my first post clearly and in detail to understand the logic
Daily (Wave 5)
1/4H (Wave 3)
As shown in chart
Price moves in fractals from higher to lower tf.
Trading plan:
Before market open, CPI numbers will move everything and IMO:
1) If gaps up, sold to fill the gap
2) If gaps down, bought to fill the gap
BEHAVIOR OF RESISTANCE ZONE - 4600
-Coincidentally, it is a fib level of wave C
-Psychological number of 4600
***resistance zone tends to break after several attempts to test it***
Note:
-Bullish structure establish (inverted H&S )
-I do not believe and use lagging indicators which are derivatives of price such as MACD , RSI etc
RISK MANAGEMENT
The strategy doesn't matter but having a good risk management is very important. Even if you disagree with me, you can also be making money on the short side w proper risk management.
Daily (Wave 5)
1/4H (Wave 3)
As shown in chart
Price moves in fractals from higher to lower tf.
Trading plan:
Before market open, CPI numbers will move everything and IMO:
1) If gaps up, sold to fill the gap
2) If gaps down, bought to fill the gap
BEHAVIOR OF RESISTANCE ZONE - 4600
-Coincidentally, it is a fib level of wave C
-Psychological number of 4600
***resistance zone tends to break after several attempts to test it***
Note:
-Bullish structure establish (inverted H&S )
-I do not believe and use lagging indicators which are derivatives of price such as MACD , RSI etc
RISK MANAGEMENT
The strategy doesn't matter but having a good risk management is very important. Even if you disagree with me, you can also be making money on the short side w proper risk management.
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