We have two possible long positions on the
SPX500
1. If price touches the first blue area, check if there is divergence on either MACD or stoch. If step 1 is fulfilled, continue.
2. If step is 1 fulfilled, we want to see either a double bottom or w/m pattern forming on 4H or 1H. Will demonstrate those patterns when the time comes. If step 2 is fulfilled, continue.
3. TP/SL will be set when necessary price action takes place in those areas. We will always wait for pullback no matter what. No pullback, no trade. If step 3 is fulfilled, continue.
4. Short when PRICE makes higher high. If it doesn't and instead makes lower low, abort this potential LONG and look for the next blue area.
Possible reversal near following dates(orange vertical lines): 30 dec, 7 jan, 11 jan, 15 jan.
Purple horizontal line: BRN(big round numbers).
SPX500
1. If price touches the first blue area, check if there is divergence on either MACD or stoch. If step 1 is fulfilled, continue.
2. If step is 1 fulfilled, we want to see either a double bottom or w/m pattern forming on 4H or 1H. Will demonstrate those patterns when the time comes. If step 2 is fulfilled, continue.
3. TP/SL will be set when necessary price action takes place in those areas. We will always wait for pullback no matter what. No pullback, no trade. If step 3 is fulfilled, continue.
4. Short when PRICE makes higher high. If it doesn't and instead makes lower low, abort this potential LONG and look for the next blue area.
Possible reversal near following dates(orange vertical lines): 30 dec, 7 jan, 11 jan, 15 jan.
Purple horizontal line: BRN(big round numbers).