SPY will continue to go up tomorrow and for the rest of the week
I use the Heikin Ashi candlestick as they show more of a directional move within the candlesticks. Today the market went up, although you cannot see that on the Heikin Ashi Candlesticks (just on the regular candlesticks.) Typically, I would not enter until I see 2 green candlesticks on the Heikin Ashi candlesticks. But you can see on the 1-3 hour charts that all the indicators are suggesting an upward move. The 4 hour candlesticks are just about to change to a bullish move.
In the past, the SPY has made a 34 point upward move. This would put the target of 609.
The 1.618 fib move would be 614.38. This is my second target.
Typically, the SPY has had a 9-12 day move in the past once the Heiki Ashi candlesticks turn green. That would make the time target of Jan 27 to 30th. I think the move will be until Jan 30th as the market should decline from Jan 31st until Feb 6th. (just before the release for the employment situation in the USA.) This is my time target.
There could be an extreme move of 53 points to put the target to 628, but that is an extreme move not an average move.
In my past charts, I mentioned I thought the market may decline in February as the market has moved upwards for 3 months and down for one month. I no longer think that will happen due to the market declining from the middle of December to Jan 10th. If you switch to a weekly chart to look at the indicators, you can see there was a decline during that time. Currently, the weekly indicators are just starting to suggest a bullish move.
I use the DMI, Stoch RSI and the MacD as my indicators as well the Heinkin Ashi candlesticks to help with the directional moves.
There is currently a week long Wealth365 Summit with many traders speaking. I have no affiliation with this company. I am just attending the summit to learn more. Check it out here to register... wealth365.com/schedule/
Happy Trading Everyone!
In the past, the SPY has made a 34 point upward move. This would put the target of 609.
The 1.618 fib move would be 614.38. This is my second target.
Typically, the SPY has had a 9-12 day move in the past once the Heiki Ashi candlesticks turn green. That would make the time target of Jan 27 to 30th. I think the move will be until Jan 30th as the market should decline from Jan 31st until Feb 6th. (just before the release for the employment situation in the USA.) This is my time target.
There could be an extreme move of 53 points to put the target to 628, but that is an extreme move not an average move.
In my past charts, I mentioned I thought the market may decline in February as the market has moved upwards for 3 months and down for one month. I no longer think that will happen due to the market declining from the middle of December to Jan 10th. If you switch to a weekly chart to look at the indicators, you can see there was a decline during that time. Currently, the weekly indicators are just starting to suggest a bullish move.
I use the DMI, Stoch RSI and the MacD as my indicators as well the Heinkin Ashi candlesticks to help with the directional moves.
There is currently a week long Wealth365 Summit with many traders speaking. I have no affiliation with this company. I am just attending the summit to learn more. Check it out here to register... wealth365.com/schedule/
Happy Trading Everyone!
עסקה פעילה
Typically, we would not enter this trade UNTIL we see another green Heikin Ashi Candlestick. So if tomorrow is another green candlestick, we would enter the trade. הערה
I entered the trade on Friday. At close I was a little confused by the indicators if it would be bullish after inauguration, but I did enter a bullish trade at the end of the day. From a technical point of view, I find the markets tend to go up for 6 days before taking a pause. So tomorrow (Tuesday) will be the 6th day. הערה
I am going to change my trade prediction. I don't think it is going to hit 614. I think it is actually going to blow past my prediction and hit an extreme move of 53 points to hit 628 by Jan 30. The market has gone too high too fast. The market will take a breather in the next day or two but will continue higher.הערה
Yesterday, I was too cocky when I changed my prediction. I don't think it will hit the extreme move of 53 points to hit 628. I will stick with my original chart idea. The daily indicators are already fading.עסקה סגורה: היעד הושג
I have been a little sick lately so I haven't been updating this chart.
But I should have closed this trade out a few days ago, when the SPY hit 609.75 on Thursday, Jan 23rd.
It hit my 34 point move target of 609, but it didn't hit the 1.618 fib target or the time target of Jan. 27-30th. Regardless, I would have been out when the SPY hit the 34 point target.
I will draw another chart tonight of the next move.
I did learn a lot with this trade and I am hoping everyone else did too.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.