I am publishing the trading plan for the S&P500 e-mini I have shared on March the 11th, to my newsletter subscribers (published in the last mid-week update, you can see an example here) . I update this plan every evening from Sunday to Thursday in my free Newsletter. Notice that price projections you will find hereunder are not from/to random levels and do not follow Elliot Wave, DiNapoli levels or other methods, but rather a proprietary Trading Method based on the observation of the effects of Program and Algorithmic Trading on price (see David Halsey’s work).
‘Last week scenario 2 played out and price keep moving higher into the first target at 1,544 because the 1,489 area of support was already tested successfully. The second target is higher at 1,576.
The inner move on the daily chart had support in the 1499 area and price never moved below 1,493. This long setup hit both first and second targets, respectively at 1,530 and 1,546,last week.
The following two scenarios were identified (refer to the below picture):
Picture – “Trading plan scenarios for the S&P500 index moving forward (daily chart) – March 10th, 2013″
Scenario 1. Price corrects into the next extension long measured move on the daily chart and then resumes it’s move higher into the first target at 1,554 and then into the second target at 1,564, helping price into the final target at 1,576.
Scenario 2. Price corrects deeper into the 1522 area and then resumes the move higher towards the 1,576 target.
Should you decide to operate based on this information you are invited to do your own due diligence, consult a registered trading professional, as well as, understand the risks involved. This information is for educational purpose only. Please read the Disclaimer and accept all involved risks.’
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Should you decide to operate based on this information you are invited to do your own due diligence, consult a registered trading professional, as well as, understand the risks involved. This information is for educational purpose only. Please read the Disclaimer and accept all involved risks.
Have a great evening.