Whether you are short or long, this is a great place to enter a trade as SPY retests a major trendline break on the weekly chart.
The long term trend still favors the bulls, however the virus catalyst favors the bears.
Place your bets on whether the price will stay above or below this line.
Based on my experience, trend lines are extremely influential on long term charts (weekly and monthly). Please see my related idea below and you'll see how I predicted the top of SPY from using 1 trend line.
The long term trend still favors the bulls, however the virus catalyst favors the bears.
Place your bets on whether the price will stay above or below this line.
Based on my experience, trend lines are extremely influential on long term charts (weekly and monthly). Please see my related idea below and you'll see how I predicted the top of SPY from using 1 trend line.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
