goodguy

SPY: What I am watching. First weeklyclose< line since 2009???

AMEX:SPY   SPDR S&P 500
spy
You may want to keep an eye on this. It's only Monday but I am trying to look ahead. Will we have a close below this long term trend line after 6 years? If so would seem bearish to me. Recheck on Friday. Take care. Have a good week.
Follow your logic, why use low on Oct 2011 rather than close, like Oct 2014?
Reply
How much do you risk and what do you target, at least initially? Any further confirmation techniques that you could use?
Reply
goodguy timwest
Tim I follow the long term charts to look for major trend changes. Personally I usually trade leveraged 2x, and 3x ETFs using 2 hour and daily charts. I use Fibonacci relationships, some simple patterns, channels, and some candle formations to decide when to get in or out of a trade. I also use some momentum indicators looking for divergences . Can get an idea from some of my postings. I'm always trying to improve so feedback is greatly appreciated.
Reply
timwest goodguy
Thanks. I was hoping to find out what your risk tolerance was on this short position. Do you risk 1%, 2% or 3% of your equity? Do you place your stop far away from the market and start with a small position or do you go with a big position and use a close stop? I guess I'm asking for the risk management aspects of this trade idea. Those are what determine your success in this trade. Just curious. If you add those I can make the chart "suggested". I like you have a divergence and a trend line break, but the risk side is the essential part too.
Reply
goodguy timwest
Tim I agree. I was not planning to trade this weekly chart. If I set up a trade in SPY on a shorter term chart I will include my stops.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out