So after 3 days of losses in a row I was timid on a trade. I was fully confident it would work out. Lets be real; We are in a downtrend.
I made my plan, checked it twice and just didn't take the trade.
Missed out on a big one!
The trade idea for today is an ETF with ticker symbol SPXL that trades the S&P 500 3x, it is a leverage S&P 500 a 3x version of SPY. It can be compared to SPY.
This is a straight bullish trade;
Entry is at $48
Stop is at $46
Target is at $55
The risk reward is a ratio of 7:2, which is a great reward risk ratio. You can trade options for December 2018 in...
Bull flag vs RSI correction
RSI suggests market correection for tomorrow and next week camdlesticks based on oct 03,09,117 situations. Purple vertical lines shows historic path itself.
Background: 12 d 5h for -16.23% down
Stick: 20h for +8% up
Flag: 1d 6h +3.39% up
However, there is a huge resistance at 45 price level, so we can expectate another...
We are at a market crossroads testing 200 DMA support across a number of big names that makes up the SPX. I'm long here with a stop loss and the stop loss will be more than just this short term SPXL trade...
Long Short term - will decide longer term depending on bounce (or not)