Midas-daily profit SPY
Today was bearish, formed bearish engulfing and trend line was broken, closing price is below 8MA.
MACD upper line is turning down and Stoch RSI has been crossed, turning down.
We are in the upper Keltner channel. This was perfect set up for shorting. I made a quite profits by shorting at the peak of 5 min chart several times today.
Tomorrow chances are going down for a while.
For day traders, Tomorrow if price is start to fall below opening price and net price, forming downtrend,
then start to short at the peak of 5 min chart, only short if downtrend is continued.
However, we are still above 200MA, 100MA, 50MA, bullish territory in general, so extra caution has to be applied by applying tight stop not to lose.
MACD upper line is turning down and Stoch RSI has been crossed, turning down.
We are in the upper Keltner channel. This was perfect set up for shorting. I made a quite profits by shorting at the peak of 5 min chart several times today.
Tomorrow chances are going down for a while.
For day traders, Tomorrow if price is start to fall below opening price and net price, forming downtrend,
then start to short at the peak of 5 min chart, only short if downtrend is continued.
However, we are still above 200MA, 100MA, 50MA, bullish territory in general, so extra caution has to be applied by applying tight stop not to lose.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.