Futures (Active Psychology) [I was right, but wrong]
Come right to me!
I am a fan of the $518.07 level on the SPY, I think buyers will be able to push it there to make an equal high reversal.
Just need these wicks to find support at the retest and rtejection level down there at the $5207.50 range. Looking for a sweep to the lows for an entry.
I have one order around the lower support and breakout area, and I also have an order down there at the POC (point of control, the area where the most volume is traded).
On the 5 minute, this does not look like a retest and rejection from a signifficant zone. If anything, that is a realized level for selling liquidity. We should see a larger reversal to at least my top limit order. I am guessing it will be a Sweep+ to the lows.
If I miss this setup, I will probably be done trading. Until SPY gets here on the daily:
LOTS of heavy selling liquidity up there at the all time highs. Makes me believe there will be a "technical" retest.
There is also this pattern on the SPY:
The 4 hour is printing 3 areas of a possible buy sell side imbalance push to the upside
I like this setup, if the price can just come to me.
Here we go, fill that Fair Value Gap.
The 5 minute looks like a textbook retest and rejection of support for more upside.
I dont like that the POC is now above the candles at a rejection zone. I cut that order limit and moved my other to VWAP.
And just like that, sellers appear at the POC. We should sweep lows here.
There's that possible retest of my previous level, but I think the market looks weak here. We should sweep lower.
Come on sellers! I hope I didnt just miss out on this move from overthinking.
DARNIT!
I was completely right, but I started overthinking. Gotta work on that. You cannot overthink in markets. Well, losing no money is better than losing money!
I will keep my longs down there, for now and if the price looks like it wants to reject again I will load up depending on market structure.
I still think markets will push to the upside today, I just want a logical entry and not go in blind ya know? haha
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment