Weekly SPX Has A Bottom W Pattern Prompting More Upside!

12 May

Hey Traders and Followers! SPX is going up!
Sounds crazy despite the tariff news floating around but charts never lie.

Here's what we got on the weekly SPX/USD; We have a bottoming W pattern. What's that mean? We going higher people.

5690.7 is the beakline area, price above invites bulls to a party.
Target for this long is at 6198.9 area. Support sits at 5579.4 for this one.
I'm letting you know about this party so up to you if you want to have a good time. See you all there with bells on and cash for all $ for those who show up.

Best of luck in all your trades $
Cheers!

14 May

İşlem aktif

Look's like price could be stalling some as the price action could be running out of gas. Good idea to take 50% profits off the table here.

Have a trailing stop in place below the 20ma or use the parabolic sar for stop location on 15min chart for example, what ever best suits your risk tolerance.

Tomorrow should paint a better picture if the bull party ends or continues.

14 May

İşlem elle kapatılmış

Price action rolling over by looks of things on 4hr and 1hr so. taking my profits and running $$$ If I see another buy opp on both 4hr and 1hr I will take it and continue to strive to meet original target. More on this later... Overall Bigger TF's still on the bull side so far. When the market gives us money we take it on any sign of possible reversal then wait for another buy opp when the market tells us to buy since higher TF's point to bull.

15 May

Not

Back in the saddle again. Long position is golden once again. Looking for original target of 6198.9 . Use parabolic sar or below 20ma on 1hr chart for stoploss and trailing stop along the ride up.

28 Haz

Not

Target area reached. $$$

2 Tem

Not

6466 area incoming for SPX monthly chart.

13 Ağu

Not

6592 area next, based on monthly chart. Many will ask (How do you know that?). Simple, just using a measured move strategy. If you don't know what that is , look it up and incorporate that into your trading method. Measured moves are ball park figure area's which help you map out "POSSIBLE" and I mean possible area's that price can reach. These for me are derived from chart patterns that are measured then projected from the upside or downside of the top or bottom of the pattern depending if the pattern is a bullish or bearish pattern.