Simple chart analysis for SPY

2024년 4월 11일

Actually, it was difficult to get the gasp of using Elliot Wave on this kind of chart because it didn't work like usually do

On H4 t.f., three Elliot Wave finished. ABC correction finish. A to B of second ABC is in process.

• I use fibonnacci from peak 2 to peak 0 and start with the level 0.50% to have a better idea of where the fifth peak will be. It should reach 300% of fibo. .
  
• The percent and 100% fibo. it's to know strong zones for retracement.
  

Note: It is a risky trade cause I'm not very familiar with this kind of chart with so many gaps, but I have analize it the best I believe.

2024년 4월 12일

액티브 트레이드

Alright, alright, SPY was going down so fast that I decided to reconstruct the ABC correction and found out that it can go much deeper.

The A wave of the abc correction usually hits a double bottom or top. So it can reach number 4 of E.W. .

Profit is secured so no risk is given.

2024년 4월 16일

액티브 트레이드

Found out that it can reach lower, so I adjusted the TP.

2024년 4월 19일

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