Long

S&P500: First green day

Updated

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“Trade setups, not movements”

1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)

Monday DAY 1 Opening Range ✅ day 2 cycle
Tuesday DAY 2 Initial Balance
Wednesday DAY 3 (reset DAY 1) Mid Point Week
Thursday DAY 2
Friday DAY 3 Closing Range

2. SIGNAL DAY

First Red Day
First Green Day ✅
3 Days Long Breakout
3 Days Short Breakout
Inside Day

3. WEEKLY TEMPLATE

Pump&Dump
Dump&Pump ✅
Frontside ✅
Backside

4. THESIS:

Long: primary, potential buy low after the news, going to stop short traders from previous week, completing the weekly dump and pump.
Short: secondary, the breakout of Friday left space with no retest, means that traders long never got their positions "shake". I wouldn't exclude a third hour reversal for a scalp back into the previous HOD.

Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni

Comment

I will be waiting the NYO 9:30am or news 10am before update this market, nothing really interesting in this current price action

Comment

Market mostly consolidate all the day, I couldn't recognise any pump and dump/dump and pump, no trade

Comment

SP500 dumped down into the gap left on the Friday's breakout, I would consider it as a stop hunt, however I wasn't able to recognise a good setup for this entry

Related publications

S&P500: First Red Day, FRIDAY DAY 3

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