Ok, something different today. If the SPY does not open totally bullish today, I am looking to short for a gap fill from 20th November close.
The stop should go above the latest trading range. Depending on the opening price and opening behaviour of the SPY we have to evaluate if the risk/ reward ratio is good enough for a trade.
The target would correspond with a 0.886 retracement of the last bigger swing and a completion of of a Bat pattern.
At that point a bounce can be expected. So that is a place for a good target and even a new long trade.
The stop should go above the latest trading range. Depending on the opening price and opening behaviour of the SPY we have to evaluate if the risk/ reward ratio is good enough for a trade.
The target would correspond with a 0.886 retracement of the last bigger swing and a completion of of a Bat pattern.
At that point a bounce can be expected. So that is a place for a good target and even a new long trade.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.