S&P 500 (SPY) - Buy Alert; Buy in the Green Box
💡 Setup Overview:
We're eyeing a bullish opportunity for SPY. The suggested buy zone lies within the green box area on the chart. This aligns with the 1.382 and 1.618 Fibonacci levels, providing a strong probability for price action reversal.
🔍 Key Levels to Watch:
Entry Zone: $563 - $573
Stop-Loss: $556.50
Targets:
First Target: $602.30
Second Target: $624.29
📊 Strategy:
The plan focuses on buying dips, with no intention to short the S&P 500. This setup leverages Elliott Wave analysis and Fibonacci extensions for precision trading.
Keep an eye out for validation at the support zone before entry.
🕒 Expected Timeline: Medium-term hold.
We're eyeing a bullish opportunity for SPY. The suggested buy zone lies within the green box area on the chart. This aligns with the 1.382 and 1.618 Fibonacci levels, providing a strong probability for price action reversal.
🔍 Key Levels to Watch:
Entry Zone: $563 - $573
Stop-Loss: $556.50
Targets:
First Target: $602.30
Second Target: $624.29
📊 Strategy:
The plan focuses on buying dips, with no intention to short the S&P 500. This setup leverages Elliott Wave analysis and Fibonacci extensions for precision trading.
Keep an eye out for validation at the support zone before entry.
🕒 Expected Timeline: Medium-term hold.
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