TomPip
Short

SPY Nice R/R Short setup, but mind that Draghi could pump this!

AMEX:SPY   SPDR S&P 500 ETF
spy
177 0 5
spy
a year ago
- SPY             is near some big horizontal en trend lines resistance.
- On the 4H it made a gravestone doji near this resistance.
- SPY             went quite high on lower volume . While this is normal, it is an additional tell that a reversal might be happening.
- Volatility has been very low around the gravestone doji , this often means a volatile move will come. This tells nothing about direction, but considering the other factors, it's likely down.
- Potential H&S forming.

Two things that bother me with this setup:
- RSI is not showing signs of weakness yet.
- Draghi will have a talk this week. Quite tricky.
a year ago
Comment: Depending on your risk appetite the SL could be adjusted up to account for a possible Thursday Draghi fake out.
a year ago
Comment: I've taken some profits here, due to Draghi speaking tomorrow.
a year ago
Trade closed: stop reached: Meh
a year ago
Comment: SL I LOVE YOU
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