1/18 Trade Plan

Update to my 1/16 Weekly Plan. SPY QQQ TSLA

SPY

Here are the levels I was watching at the start of the week,

From 1/16’s Plan

I still think that 473 is the key. On Tuesday we almost got to the 1st resistance level 476.95 but fell short leaving the high on Tuesday at 476.61. Notice how we then closed under last week’s POC of 475.34 closing at 474.93. This led to a gap down under last week’s VAL at 473.45. We also gapped under the 10 and 20 SMA’s on the 1D. Today we made an attempt to test those levels, but we have not quite reached it as of now.

We did find support at the MMs weekly implied low at 471.21. Today in the intraday chat I mentioned that I was watching the 471.20-470.60 level to see if bounce or if it turns into resistance. In chat I said that if it held, I thought we could make a run for 473. Price came down to 471.05 and it made a move to 472.79.

We dipped below 470.60 later on in the session but we quickly recovered. As soon as price reclaimed this level, we made another run at the highs.