SPY CHANNEL PLAY
Updated
Completely parabolic action today in the spy.
1) ran right into resistance on daily chart
2) fading volume of trend
3) RSI didn't register overbought when market made its last structure high
4) blow off top candle on 30 mn chart
5) lots of selling on level two
The rectangle below is the profit target (2 gaps down there that need to be filled)
1) ran right into resistance on daily chart
2) fading volume of trend
3) RSI didn't register overbought when market made its last structure high
4) blow off top candle on 30 mn chart
5) lots of selling on level two
The rectangle below is the profit target (2 gaps down there that need to be filled)
Trade closed: target reached
Successful trade, if you listened and profited, good job.
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