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GK-Trades
Jun 10, 2020 2:56 PM

Calls at the trend line $SPY  Long

SPDR S&P 500 ETF TRUSTArca

Description

Its been seeing huge profits - continue here.
Comments
XYZ-Trader-
I don't agree with this trade idea and the timing was wrong. Suggesting people lean into and buy a trend line that was over extended/overbought for over a week, on the day of an FOMC meeting, with heavy overhead resistance just 20 points above. I agree that at the bottom of the trend line, there were great long trades but not to suggest to someone to lean in after a long exhaustive uptrend and on the last day at the top. The smart trader would have proposed people taking profits and setting themselves up for a short trade and waiting for a pullback before a long. This turned out to be a big bull trap and could have hurt someone.
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