V reversal, if 289 could be Conquered quickly, plan to long
This is one of the images in my vision. I have provided another different image of Elliott waves. see attached link.
In this image, SPY might be a "V" reversal pattern. See left 3 samples in SPY daily chart: Dec. 2018; Jun. 2019; Oct. 2019;
SMA200 will become support once the price is above it.
"V" reversal is one kind very strong trending pattern. In all these 3 samples, "V" pattern created new higher high.
In such kind quick and big move, how to join the trend with low risk? Here is an ideal plan:
Condition:
1. SPY must go above 289 quickly, The high point marked as "B"
2. and down below 287; the low point marked as "C"
3. and go up again
Confirmation Entry: Stop buy about 288-290 (B-C)/4+C
Stop: about 284 ($1 below C)
Target: 312;
buy at 288: Risk/reward=1:6
buy at 290: Risk/reward=1:3.7
if Gap up above 290, let it go, don't chase. Risk/reward >= 1:3 is the minimum request in a trading plan.
In this image, SPY might be a "V" reversal pattern. See left 3 samples in SPY daily chart: Dec. 2018; Jun. 2019; Oct. 2019;
SMA200 will become support once the price is above it.
"V" reversal is one kind very strong trending pattern. In all these 3 samples, "V" pattern created new higher high.
In such kind quick and big move, how to join the trend with low risk? Here is an ideal plan:
Condition:
1. SPY must go above 289 quickly, The high point marked as "B"
2. and down below 287; the low point marked as "C"
3. and go up again
Confirmation Entry: Stop buy about 288-290 (B-C)/4+C
Stop: about 284 ($1 below C)
Target: 312;
buy at 288: Risk/reward=1:6
buy at 290: Risk/reward=1:3.7
if Gap up above 290, let it go, don't chase. Risk/reward >= 1:3 is the minimum request in a trading plan.
Pesanan dibatalkan
SPY Gap down to Lower low - 242.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.