MarketSwingPlayer

Just Tracking Price - Channel Breakout Updated-Version 2

AMEX:SPY   SPDR S&P 500
117 4 0
Channel Updated with new price action-support resistance.
Lessons Learned: Learn to read Price Action & predict next move on your own. You can succeed! http://stks.co/hu5t
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Wow, hope you made a lot of money shorting this baby. Cheers :D
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Sweet Cheers
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Notice the topping patterns near the upper channel on this chart. Notice Long green candle near line before long red candle. Another topping pattern is Long green, doji, and then long red candle. Need to anticipate pattern before complete to get good entry opp near trend-channel lines only. Same with bottoming pattern, but colors in reverse. Top and bottom channel bounce is low risk trades. Place tight stops near high or low of price depending on top or btm of channel Good luck.
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