SPY Market Breakdown - Weekend of June 13th
Don't trade against the patterns of the market, you're going to get humbled.
As always please do your own research, I am not a financial advisor.
- Keeping this chart clean and simple, with the only technicals being simple S&R levels as well as my own Easy Loot indicator I created yesterday
- With the impending second wave of beer virus, the stonks markets are looking for another decent correction
- This being said, the marked out accumulation zone (green) on my chart at 272 - 286 is my buy zone AFTER I see clear indication of a trend reversal
- Right now it wouldn't be smart to go long, although it does seem like market is holding out at our known accumulation zone of 302 -308
- What to expect on Monday?
Scenario 1 - Price continues holding at 302 - 308 right along the higher accumulation zone and stays flat going into next week
Scenario 2 - Price starts to fall and sell targets are placed going short , 1st TP @ 294, 2nd TP @ 286
- From there we will re-evaluate the market and decide on our next entry either long or short, who knows? corona could come back all of a sudden and our bias completely changes
Don't trade against the patterns of the market, you're going to get humbled.
As always please do your own research, I am not a financial advisor.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.