Category Archives: SPY trades

$SPY call trade by identifying the lower channel line

The 1 hr chart shows that we are in the v(5) final phase of the impulse wave green [c] .  The trade setup was the 4th wave bottom . I was not sure if the b wave had ended or if it was still in progress the confirmation that i got that the b wave has ended came when the price came down to the purple dotted trend line in an impulse after the yellow (i) and (ii) had been identified and the yellow (iii) (iv) and (v) pretty much took place in a very short amount of time.