The journey to 408, and the psychology behind it.
Updated
For starters, spy hit my target perfectly from yesterdays post:
Secondly, we are in the midst of finishing the final wave 5 structure on the largest possible degree (dating back to the 1800's.
Currently I have this 5 ending at 4083.50, but I wasn't sure how we would get there until today.
>Sub-wave 3 impulses out of the rising wedge which spy has formed since September.
>Dumps it into 3\19, but not as deep as everyone expects it to (bear trap)
>Has one more final false breakout to trap the last of the bulls (bull trap)
>Then we drop to 250 based on my good friends prediction here:
I 110% expect a lot more bull \ bear traps along the way, and it is not going to be a smooth ride, but the numbers all check out perfectly.
Be cautious, and as always, trade safely.
💸
Secondly, we are in the midst of finishing the final wave 5 structure on the largest possible degree (dating back to the 1800's.
Currently I have this 5 ending at 4083.50, but I wasn't sure how we would get there until today.
>Sub-wave 3 impulses out of the rising wedge which spy has formed since September.
>Dumps it into 3\19, but not as deep as everyone expects it to (bear trap)
>Has one more final false breakout to trap the last of the bulls (bull trap)
>Then we drop to 250 based on my good friends prediction here:
I 110% expect a lot more bull \ bear traps along the way, and it is not going to be a smooth ride, but the numbers all check out perfectly.
Be cautious, and as always, trade safely.
💸
Trade active
Went slightly lower than expected, but nothing was violated. We're still game on this trade.I'm swinging some SPXL \ TQQQ overnight (wish me luck 😅)
Trade closed: stop reached
well this idea flopped :,)market maker wins again
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