short SPY broke range downwards Traded retracement. Retracement didn't touch range, but in QQQ and DIA it did
Comments
rlim
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Should have waited longer.. now we got the retracement.
QQQ and DIA are back in the range.
rlim
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New updated channels
rlim
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SPY back in to the box and crossing over trendline
rlim
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Good call today.
I was early on the retracement.
But was correct by end of day
rlim
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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.
QQQ and DIA are back in the range.