Bulls are currently hopeful and buying every dip. Breakouts commonly fail in bear markets so trade this one cautiously.
From the bottom of the cup to the top, we're able to project our target to about 3100.
The breakout point was around 2650 where SPY broke through strong overhead resistance including the 200 week moving average. The price came back down to confirm the resistance was now support.
Stop loss would be somewhere below 2650. If this support breaks, lookout below.
From the bottom of the cup to the top, we're able to project our target to about 3100.
The breakout point was around 2650 where SPY broke through strong overhead resistance including the 200 week moving average. The price came back down to confirm the resistance was now support.
Stop loss would be somewhere below 2650. If this support breaks, lookout below.
הערה
Why this breakout could fail:עסקה סגורה: היעד הושג
Target of 3100 was reached. Congrats to all who traded.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.