SPY Consolidation going into expansion
Great time to start trading based on the expansion direction of SPY in the coming week.
Using RSI and Fibs, along with candlestick patterns, there are potential patterns to emerge from this.
Currently loading up on Calls for 3/31 $410
Starting small position in 2/17 $350 Put
Will trim and add based on the expansion momentum next week. Using 15min RSI diversions and min max levels to load and trim corresponding options.
Expecting SPY to retest $400-410 zone, then test $360-330 zone before starting new bull wave.
Using RSI and Fibs, along with candlestick patterns, there are potential patterns to emerge from this.
Currently loading up on Calls for 3/31 $410
Starting small position in 2/17 $350 Put
Will trim and add based on the expansion momentum next week. Using 15min RSI diversions and min max levels to load and trim corresponding options.
Expecting SPY to retest $400-410 zone, then test $360-330 zone before starting new bull wave.