Ready to go Short (SPY Hourly)
Used lowest lows and highest highs of peaks and valleys to draw out channel. If it holds against tests good trade opportunity of about a 1-6 risk /reward ration.
Out of the long position and ready to go short. Will wait for more testing of resistance and/or a following breakdown of price on volume. TEMA crossover and SRSI down-shift as confirmation.
Watch out also for potential inverse head-n-shoulders pattern.
Out of the long position and ready to go short. Will wait for more testing of resistance and/or a following breakdown of price on volume. TEMA crossover and SRSI down-shift as confirmation.
Watch out also for potential inverse head-n-shoulders pattern.
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