On 2/2/18 the SPX bottomed near two significant Fibonacci points.
A .236 retrace of the rally from August 2017 is at 2764.78
Also equality is a common relationship between waves "two" and "four"
Minute wave "II" - boxed was 110.02 subtract this from the SPX high at 2872.09 targets 2762.07
Bottom on 2/2/18 was 2759.97
Also I've recently learned a technique to discover a markets value using the - Market Profile method.
This technique determines the daily value area of a market. If closing price is too far from value, the next trading day
price could gravitate back to value.
I use the S&P March E-mini contract to discover value.
On 2/2/18 Value closed at 2795.00 a drop of only 28.50 points from the 2/1/18 close.
On 2/2/18 Price closed at 2860.00 a drop of 61.75 points from the 2/1/18 close.
The difference between Price and Value is a huge 33.25 point difference.
Very high probability that price will gravitate back to value on 2/5/18.
This plus the SPX closing very close to two important Fibonacci support areas presents a very high reward to risk ratio on 2/5/18.
If the SPX gaps up on 2/5/18 go long the first minute of trading at 9:30 AM -ET.
The forecast time frame of comparing value to price is limited to one trading day. If you go long the SPX close out the position before the close on 2/5/18.
A .236 retrace of the rally from August 2017 is at 2764.78
Also equality is a common relationship between waves "two" and "four"
Minute wave "II" - boxed was 110.02 subtract this from the SPX high at 2872.09 targets 2762.07
Bottom on 2/2/18 was 2759.97
Also I've recently learned a technique to discover a markets value using the - Market Profile method.
This technique determines the daily value area of a market. If closing price is too far from value, the next trading day
price could gravitate back to value.
I use the S&P March E-mini contract to discover value.
On 2/2/18 Value closed at 2795.00 a drop of only 28.50 points from the 2/1/18 close.
On 2/2/18 Price closed at 2860.00 a drop of 61.75 points from the 2/1/18 close.
The difference between Price and Value is a huge 33.25 point difference.
Very high probability that price will gravitate back to value on 2/5/18.
This plus the SPX closing very close to two important Fibonacci support areas presents a very high reward to risk ratio on 2/5/18.
If the SPX gaps up on 2/5/18 go long the first minute of trading at 9:30 AM -ET.
The forecast time frame of comparing value to price is limited to one trading day. If you go long the SPX close out the position before the close on 2/5/18.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.