whiteknightmoving
Long

SPY - Calls sold! nice profit! Possible new targets now

AMEX:SPY   SPDR S&P 500 ETF TRUST
This morning we sold calls at about 7am for a nice profit. We are now looking for the pullback into the point C shown around a 61.8% retracement of this mornings gap high from yesterday's low. If we get into the buy zone indicated, We see 2 possible patterns developing ( Gartley and Deep Crab not shown). The pattern shown in purple is a traditional Shark Pattern similar to the Gartley Pattern . (the Gartley uses a 78.6% retracement instead of an 88.6%). The blue is an extended Shark pattern using the 112.8% extension of XA. I like these 2 patterns the best, as it has prices terminating around previous wave 4 high, and the previous zone of the waves 3-4 of the 3rd wave down. The resistance lines shown help to point out the areas of interest.
Let's see if we can make some more money!
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 Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out