An update on my previous $SPY prediction, currently forming a bull-flag on the 2H. The idea behind this trade follows the falling wedge reversal pattern, accompanied with confluence from the bull-flag back towards all time high. A break and flush below support of the 200 MA, or below our bull-flag support would invalidate this idea.
Avoid being overly bearish, once we start to ride up, avoid being overly bullish.
Just follow what the story read through the charts.
CPI release Apr 12, 2022.
Good Luck,
Namaste
Avoid being overly bearish, once we start to ride up, avoid being overly bullish.
Just follow what the story read through the charts.
CPI release Apr 12, 2022.
Good Luck,
Namaste
Comment:
Big support at approx 430, a break and flush below may mean that the trend has reversed and we will head lower.
On the contrary, a bounce off 430 would be a great sign.
On the contrary, a bounce off 430 would be a great sign.
Comment:
Looking at this as more of a restest of the wedge and key levels, bull flag was slightly ambitious.
Comment:
continuation to the downside lol
The key here is to hold the 200 MA red trend line as support and bounce towards the target approx 485