SPY
August 15, 2023 15 Minutes
At last, all moving averages converged.
Action time.
1, 3, 5 minutes all have close above all moving averages.
I will consider 2 Fibs.
The fall 451.7 to 443.35
and the rise 444.38 to 448.11.
As we can see 446 becomes a strong support. It also is 50 and 100 averages line.
Today i will play for a target 449-451 SL 445.5.
I hope to get a buy around 447.2 to 447.5.
R:R is 1:1 not good buy we have 9, 21, 50 averages sloping upwards and 200 broken at close.
We also have positive signals from Ellott oscillator being green, Black bar on stochastics s on top, and CCI Green.
As usual all numbers valid without gaps.
I will wait first 15 minutes to initiate a trade, if setup available.
Comment:
Gap down. All numbers went for a six.