rlim

Trade #5, #6, #7 SPY

AMEX:SPY   SPDR S&P 500 ETF
30 3 0
Added short position at 188, ~191 and at 193.4

@188, I had woken up and saw that the market had gapped up but trended down the rest of the day.
I recognized there was a support close by, but didn't have any short positions. I was scared of missing out so I entered a short position. Hindsight I caught the bottom of the day :(

sold OCT             calls 51DTE 201/206 @.86

@~191, Trend is still considered down. It was reaching a trendline and showing difficulty moving up, then went back down the trendline. Entered on the /\.

sold OCT             calls 51DTE 202/207 @.95


@193.4, it reached a higher trendline, trusted above the trendline, but the next 2 candles were lower. So decided to add another short position. Also showing resistance at 194 which is a round number. Entered on the /\ in 5 minute chart.

sold OCT             calls 51 DTE             204/209 @.87

If we break above the trendline, I will start looking for bullish positions
rlim
a year ago
Sliced through the trendline. Now I'm worried. Strong bull action
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rlim
a year ago
I feel like I am too eager entering 3 positions on the same day.
Maybe I should have waited until it reached the top/open of yesterday at least. That's probably where most of the supply is waiting and where people watching daily candles are waiting
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rlim rlim
a year ago
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