SPY going up after the election
מעודכן
Even though the DAILY indicators have not changed, the 30 minute, the 1 hour and even the 2 hour indicators are shifting to indicate an upward movement. The rest of the hourly and daily indicators will soon follow. (I will post these 30 minute and the 1 hour indicators soon)
I am using the Heikin Ashi candlestick as I find you see more of a definite trend on the candlesticks itself. Typically, you would wait to enter the trade until you see 2 green candlesticks. But I am a little bit of a rebel and I already entered today, which will probably come back to bite me in the ass soon! LOL! ;-)
I use the MacD, DMI and the Stochastic RSI as my indicators.
The SPY will move about 34 points which was the average upward move of the previous months and that hits the fib line of 1.618. I use the fib tool to get a general approximation of the target. So I estimate the target of the SPY at around 602. It will reach that target around November 21st or approximately a 14 day upward move, which has been the average upward move in the previous months.
Around November 12th, the market will pause a little before heading back up to reach the target I have laid out as 602.
Happy trading everyone!
I am using the Heikin Ashi candlestick as I find you see more of a definite trend on the candlesticks itself. Typically, you would wait to enter the trade until you see 2 green candlesticks. But I am a little bit of a rebel and I already entered today, which will probably come back to bite me in the ass soon! LOL! ;-)
I use the MacD, DMI and the Stochastic RSI as my indicators.
The SPY will move about 34 points which was the average upward move of the previous months and that hits the fib line of 1.618. I use the fib tool to get a general approximation of the target. So I estimate the target of the SPY at around 602. It will reach that target around November 21st or approximately a 14 day upward move, which has been the average upward move in the previous months.
Around November 12th, the market will pause a little before heading back up to reach the target I have laid out as 602.
Happy trading everyone!
הערה
30 minute:
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1 hour chart:
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2 hour chart:
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I shouldn't have been so cocky; I should have included in this chart the possibility that the market will go down. If you look at the weekly charts, the indicators are still indicating a lower move downward. הערה
I believe the market will hit around 567.89 (support) between 1130 - 1330 EST then it will go back up and continue to go up the next day. This is based on what the 1/2 hour and hour indicators are saying, as well as looking at the market the day of the 2020 election.עסקה פעילה
I was wrong about what would happen the day of the election, but I was correct in saying that the market would go up. It should continue to go up for the rest of the week.הערה
The SPY should continue to go up for most of today (Thursday). Tomorrow and possibly Monday, I think there will be a small downward movement but it will continue to go up after that to hit the target of about 602.הערה
There is a chance that the SPY will just keep ascending until the target instead of a small downward movement on Friday and possibly Monday. We just have to keep our eyes on some of the short term indicators.הערה
The SPY may incline about 53 points like it did in the previous months which means the target will be closer to 619 or 2.619 fibinocci.עסקה סגורה: היעד הושג
The target was hit. I will close this trade. You can also see the indicators indicating a downward movement. The market is shifting/preparing for the US Thanksgiving Christmas.
Sorry about the late update.
הערה
You can see below where I circled the indicator which shows a change in the indicator.
Sorry for the late update.
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