Keeping this simple intentionally to track later on if this impulse/ reflex feeling is accurate.
Thinking we have a short term wedge that will resolve to the downside to fill 1 or 2 of the below gaps on SPY.
If this is accurate we may see this full picture resolve by mid-week (~406).
Seems aggressive, but let's be honest, with everything going on in the past year and current times with the crypto market - I'm not ruling out ANYTHING these days.
This is not financial advice. Again, just want to look back and see if my hipfired impulse was correct. Part of this practice for me is seeing how my "senses" improve or worsen with more exposure in the market. With a break above 416 I would expect this idea to be invalidated. Similarly if we don't see a convincing break and hold of sub 414 by EOD I would be very skeptical of this idea playing out.
Thinking we have a short term wedge that will resolve to the downside to fill 1 or 2 of the below gaps on SPY.
If this is accurate we may see this full picture resolve by mid-week (~406).
Seems aggressive, but let's be honest, with everything going on in the past year and current times with the crypto market - I'm not ruling out ANYTHING these days.
This is not financial advice. Again, just want to look back and see if my hipfired impulse was correct. Part of this practice for me is seeing how my "senses" improve or worsen with more exposure in the market. With a break above 416 I would expect this idea to be invalidated. Similarly if we don't see a convincing break and hold of sub 414 by EOD I would be very skeptical of this idea playing out.
Trade closed manually:
well that worked out well.
406 by Wednesday achieved. stellar.
406 by Wednesday achieved. stellar.