SPY has been playing out nicely the past few weeks.
As I mentioned before, I am not holding positions over night, only day trading and the levels and patterns have been on point.
Since the last pattern I posted (Inverted Head and Shoulders) SPY just moved as i expected. From the Inverted H&S break it formed an ascending channel which broke on Friday to the downside and stablished a new low (380.50)
And now what?
Very simple for me coming into the next few days.
Resistance: 394.75 (right shoulder retest) - 398 - 400 (psychological)
Supports: 388.42 (I would probably short here) 385.20 (Would be my first short target) 380.50 (Friday's lows)
I can't stress this enough. Size down on positions and always take profits. This market is not an amateur market, stay nimble.
As I mentioned before, I am not holding positions over night, only day trading and the levels and patterns have been on point.
Since the last pattern I posted (Inverted Head and Shoulders) SPY just moved as i expected. From the Inverted H&S break it formed an ascending channel which broke on Friday to the downside and stablished a new low (380.50)
And now what?
Very simple for me coming into the next few days.
Resistance: 394.75 (right shoulder retest) - 398 - 400 (psychological)
Supports: 388.42 (I would probably short here) 385.20 (Would be my first short target) 380.50 (Friday's lows)
I can't stress this enough. Size down on positions and always take profits. This market is not an amateur market, stay nimble.
Dagangan ditutup: sasaran tercapai
As per plan, entered on the break (394.75) and took profits close to 398BTO: SPY 397C 5/23 @ 1.15
STC: 1.81
57% profits.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.