There is still some steam ahead in this move up. I exited a little too early in my last idea... But some profits were locked in, which is good!
We had some additional testing in the trading range that was not the sign of strength I was originally looking for, but we did end up getting the sign of strength right before market close.
The plan ahead is the following... (Your position will be 3/23 $402 SPY calls in all of these scenarios)
IF WE GAP BELOW THE HIGH AT MARKET OPEN AND MOVE DOWN (SCENARIO 1):
-Enter at 397, stop loss below 396.25. Take profit at $401.
IF WE GAP ABOVE THE HIGH AND MAKE IT TO 401 *BEFORE* 397 (SCENARIO 2):
-Still enter at $397, but stay in the trade above 401. TP target is at $406 in this scenario.
We had some additional testing in the trading range that was not the sign of strength I was originally looking for, but we did end up getting the sign of strength right before market close.
The plan ahead is the following... (Your position will be 3/23 $402 SPY calls in all of these scenarios)
IF WE GAP BELOW THE HIGH AT MARKET OPEN AND MOVE DOWN (SCENARIO 1):
-Enter at 397, stop loss below 396.25. Take profit at $401.
IF WE GAP ABOVE THE HIGH AND MAKE IT TO 401 *BEFORE* 397 (SCENARIO 2):
-Still enter at $397, but stay in the trade above 401. TP target is at $406 in this scenario.
NEW VIDEO UP SHORTLY.
PRE-MARKET PRICES ALREADY HIT $397 ON THE SPY. WHICH MEANS WE WILL NOT BE GOING BACK TO IT BUT MOVING HIGHER.
NEW DETAILS ARE:
-BUY AT OPEN, $403 SPY CALLS WITH 3/23 EXPY
-TAKE HALF PROFIT AT $401 AND RIDE THE REST FOR $406
NEW VIDEO SHORTLY!