💡 Setup Overview:
We're eyeing a bullish opportunity for SPY. The suggested buy zone lies within the green box area on the chart. This aligns with the 1.382 and 1.618 Fibonacci levels, providing a strong probability for price action reversal.
🔍 Key Levels to Watch:
Entry Zone: $563 - $573
Stop-Loss: $556.50
Targets:
First Target: $602.30
Second Target: $624.29
📊 Strategy:
The plan focuses on buying dips, with no intention to short the S&P 500. This setup leverages Elliott Wave analysis and Fibonacci extensions for precision trading.
Keep an eye out for validation at the support zone before entry.
🕒 Expected Timeline: Medium-term hold.
We're eyeing a bullish opportunity for SPY. The suggested buy zone lies within the green box area on the chart. This aligns with the 1.382 and 1.618 Fibonacci levels, providing a strong probability for price action reversal.
🔍 Key Levels to Watch:
Entry Zone: $563 - $573
Stop-Loss: $556.50
Targets:
First Target: $602.30
Second Target: $624.29
📊 Strategy:
The plan focuses on buying dips, with no intention to short the S&P 500. This setup leverages Elliott Wave analysis and Fibonacci extensions for precision trading.
Keep an eye out for validation at the support zone before entry.
🕒 Expected Timeline: Medium-term hold.
@ TheStockWhale on Twitter / X
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.
@ TheStockWhale on Twitter / X
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.