$SPY Reversal Long

SPDR S&P 500 ETF TRUSTArca

Description

⋅ Sep 13, 2021 8:02 PM

Swinging 9/17 calls here. Stop below the previous month's VPOC. I wanted 453.5 for entry but never came. Looks to be a reversal .

Quad witching this week, will most likely close in a day or two.. target 458

Comments

Drootweek

⋅ Sep 13, 2021 10:56 PM

Thoughts on the 30 ema being broken? That usually signifies a move to the 50/60 day which would be around 40, im looking to enter around there

FriscoTrades

⋅ Sep 14, 2021 2:22 AM

@Drootweek, I prefer clouds / zones as using a single line for support and resistance can cause a lot of fake outs. Check out my post on the VPOC. Daily time frame looks good to me for next leg up as long as it holds 443.5 (which so far it did)

Trekuno

⋅ Sep 13, 2021 10:32 PM

Wait. You’re saying 458 in two days?

FriscoTrades

⋅ Sep 14, 2021 2:17 AM

@Trekuno, good catch.. sorry typo. Level is at 443.5 and target is 448 .

My calls would certainly not mind 458 either : P