$SPX - Going Long after FOMC Speaker - Two Options

It depends on where the price is when I wake up tomorrow. If it's not been below 4345.8, that's at target as if you were to put a fib on top of the current breaker, that price point is just below the 63% retracement level (discount) And I would wait for the FOMC speaker to start and if it's still not below this level after opening then this is where I would look for it to bounce and go long

The second option is that if I wake up and price hs made it way lower than that price point, I would expect it to be hovering around/above the breaker point 4331.2. If you place the fib at the bottom where it hits the previous bullish order block on the 1-hour chart
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I would expect it to dive past the breaker and hit the Bullish order block on the 4 hr chart at 4321.7 before moving bullish again. The patterns repeat in Smart money, it's just where Institutional order flow wants the price to go is the difference.

The around 2:00 p.m. the 10 yr bond auction happens and I would expect the price to start slipping from there so I would aim for any High that I could and take profits before 1:00 p.m., to be honest.

Even if Either scenario isn't perfect, as long as it stays above 4290, it'll still be bullish.

Bình luận:

Looks like it's plan A. Without ruling out Plan B.

Bình luận:

It looks like this is th long Idea.

I'd switch to going short just after price crosses the current high of 4376 around 10-10:30 in anticipation of the FOMC speaker. then it may go long again after around 11 ish. but upon initial open I'm going to look for shorting opportunities. as it is oversold and it looks like it will be selling.

Bình luận:

I'm waiting to see if it hits the 127% extension 4386. But I' about to pull the short trigger at the earliest sign of it possibly shorting. the williams % indicating dropping from being oversold is one of the thingss I'm looking at

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