SPX500 What will the result tell us this point forward ?

Hello everyone:

Long time no post since I was very patiently sitting through the US election, and did not want to get in any positions during the volatile market.

As we are getting closer to the result, its important to not have FOMO and jump into any trades blindly.

Typical newer traders want to jump in the trade thinking they market will be gone if they don't enter, and usually end up with a loss or losses due to their tight SL.

My honest suggestion is to be patient and wait for price action to give us more clarity on what the market will do.


In this example of SPY, I see 2 possible scenarios. Since the current price action and the structure can be both continuation or reversal, I will explain both.

The more probable one is the continuation bullish move, as the price forms this larger HTF structure to potentially break out. Then I would wait for a LTF correction to development and get in the buys.

or

Price begins to form reversal price action and structure, and we see LTF bearish reversal impulse, and then in this case wait for continuation correction to sell.

Very simple approach and no need to stress and guess what the market will do.


thank you

feel free to comment or ask me questions.