TomPip
Short

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

AMEX:SPY   SPDR S&P 500
spy
- 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.
Comment: Depending on your risk appetite the SL could be adjusted up to account for a possible Thursday Draghi fake out.
Comment: I've taken some profits here, due to Draghi speaking tomorrow.
Trade closed: stop reached: Meh
Comment: SL I LOVE YOU
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out