rlim
Short

Trade #4, SPY

AMEX:SPY   SPDR S&P 500 ETF
32 5 0
short SPY            
broke range downwards
Traded retracement.
Retracement didn't touch range, but in QQQ             and DIA             it did

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rlim
chop chop chop chop
rlim about SPY a year ago
rlim
a year ago
Should have waited longer.. now we got the retracement.
QQQ and DIA are back in the range.
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rlim rlim
a year ago
New updated channels
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rlim rlim
a year ago
SPY back in to the box and crossing over trendline
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rlim rlim
a year ago
Good call today.
I was early on the retracement.
But was correct by end of day
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rlim rlim
a year ago
I aggressively exited yesterday short call spread positions because I was worried SPY will see a support at 187.23 area (the open on Monday) and I had close to a 50% of expected profit. Didn't want to end up waiting for a week to actually reach the 50% of expected profit if I am correct.

I will need some confirmation tomorrow if we are at the bottom of a range. Even if we are at the bottom of a range, I don't think the risk:reward is warrant a trade. I expect strong resistance around the red trend line.
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