j0turne
Short

Going Short on SPY

AMEX:SPY   SPDR S&P 500 ETF
94 5 0
Looks like similar situation in August except trend line was punched through today. I am going short via leveraged ETF with a tight stop (as always).Target is 2.95 or 1.52% with stop of .65 or .33%. Risk/Reward 4.54
What is the 2.95 target here? It appears there could be a short-lived rebound to TL resistance then a roll over??
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j0turne ttraider
2.95 is where I see the next line of support. Yes, it did rebound. I may go short again tomorrow
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That stop loss is just wrong
+1 Reply
j0turne vlad.adrian
Which stop loss would you use?
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well I wouldn't have shorted there in the first place, but if I would have, I would place it above the candle. Also, I don't use hard stops, they just don't work for me
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