Update on Spy
On 11/27 I had given my analysis on spy. I also warned to be cautious going long and that we should see 385 in December. Indicators play a key role to spy’s movement. Let’s see what market does at open.
Buyers will need to open above 385 and hold. If 385 does not hold there is a massive FVG that could potentially get filled down to 376. (Not saying it will happen today or it could happen). Just be cautious.
If you are to grab calls, please make sure you have a tight stop loss in place.
If spy opens below 385, once again be cautious going short or long. 380 is where the put wall is at. Look for support and resistance levels. Go back to when spy traded at these ranges and see where we can see a bounce or a rejection at. Indicator still shows room for the downside, doesn’t mean it can’t bounce.
Be mindful of your capital. Secure profits. Play the chart in front of you. Do not be biased.
GL today! Happy Trading.
Buyers will need to open above 385 and hold. If 385 does not hold there is a massive FVG that could potentially get filled down to 376. (Not saying it will happen today or it could happen). Just be cautious.
If you are to grab calls, please make sure you have a tight stop loss in place.
If spy opens below 385, once again be cautious going short or long. 380 is where the put wall is at. Look for support and resistance levels. Go back to when spy traded at these ranges and see where we can see a bounce or a rejection at. Indicator still shows room for the downside, doesn’t mean it can’t bounce.
Be mindful of your capital. Secure profits. Play the chart in front of you. Do not be biased.
GL today! Happy Trading.
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Teaching how to trade off of TA
Respect your capital and securing profits
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MarketMatt Channel : Great post