TheHandsome92
Short

fib two week short

AMEX:SPY   SPDR S&P 500 ETF TRUST
259 views
4
Based on the fibonacci retracement tool and past stock market patterns, I predict the stock will decrease.

Stop loss: 278.9

Stop order 272.7

Price target: 261.5

Still learning

Comments

Thanks Buddy. Do you have any time frame for the decline?
Reply
Very nice setup, personally I think the s&p500 will continue its uptrend next week but the orders are in the correct place, 2:1 ratio for target/stop and a buy order for your entry price is good so that if it continues higher you can re-evaluate without entering the trade.

One thing I noticed though is this is called a buy limit order, if it was above the market price it's called a buy stop order, or if you don't care about the price its a buy market order.
Reply
@Dem456,

Thanks for the feedback man! We'll see if it will uptrend or not.
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out