McGuireTO

Watching SQ hourly chart to signal a solid entry for a swing

NYSE:SQ   Square, Inc
SQ has a night daily equilibrium playing out. We're looking for the hourly supports to break next week to signal healthy daily consolidation is coming to set a daily higher low above 64.69. I will potentially buy the hourly trend change, another strategy I may employ is to wait for the daily trend to change and break our resistance of 80.32 - that would eliminate some of the reward and some of the risk.

I'll be keeping an eye on SPY to ensure it does not break it's recent lows - if the market dumps to lower lows, I certainly do not want to be holding any swing positions!