JenRz

Spike down reverse up Day trades SPY

Long
JenRz Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Dowsing suggested a day trade for today around 10:50-11:00 eastern and it's 10:46 now with liquidation all morning, basically. I'm asking what the advice is now and it's a "spike down and reverse back up".
These patterns are $$ in my experience and the other advice was it's "safe & profitable to buy". Only holding until around 12:30 though. Good luck.
Comment:
I still have this reversing, but I don't like the 11:00 lows broken. I will just be ultra-light. It works or doesn't. I do get a new high for tomorrow.
Comment:
This had to be for a short on that little pop at about 10:53. The next time of day is 12:20-30. I still have hope I'll figure these out!
Trade closed manually:
Lord, was this one educational. I've never had the option of a "spike down & reverse up" scenario given over multiple days. They've always been intraday. It clearly has the pattern though of the spike down and reverse up patter at least.
I will have to ask more questions in the future when I get spike reversal ideas. Big oops.

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