📈 SPY Trade Setup – Key Reclaim or Rejection at $510.27 🔥
Ticker: SPY
Timeframe: 1H
Setup Date: April 7, 2025
🧠 Idea Summary:
SPY has recently bounced from oversold conditions and is approaching a critical level at $510.27, which is the 6-month low. Price action at this level could dictate the next major move. Here's how I’m planning this setup:
🟢 Scenario 1: Long Setup
Trigger: SPY reclaims and holds above $510.27
Confirmation: Retest and bounce from $510.27 as new support
Target: Move toward the next key resistance at $537.75 (Y Mid)
Stop: Below $508 for risk management
🔴 Scenario 2: Short Setup
Trigger: SPY fails to reclaim $510.27 and faces rejection
Confirmation: Lower highs and rejection candles under resistance
Target: Drop toward $466.43 (Y Low)
Stop: Above $512 or structure high
📊 Indicators Watching:
Dynamic Support & Resistance
Neon Momentum Waves – signaling potential short-term reversal or bounce
📌 Notes:
$510.27 is the key inflection point.
Momentum and volume confirmation are crucial.
Be patient and let price confirm your bias.
🔔 Let me know in the comments how you’re playing this level – are you leaning long or short?
👍 Like & Follow for more setups!
Disclaimer: This content is for educational and informational purposes only and does not constitute financial advice. Always do your own research and consult with a licensed financial advisor before making any investment decisions. Trading involves risk, and you should only trade with capital you can afford to lose.
#SPY #SP500 #TradingSetup #TechnicalAnalysis #SwingTrade #MarketWatch #SupportResistance
Ticker: SPY
Timeframe: 1H
Setup Date: April 7, 2025
🧠 Idea Summary:
SPY has recently bounced from oversold conditions and is approaching a critical level at $510.27, which is the 6-month low. Price action at this level could dictate the next major move. Here's how I’m planning this setup:
🟢 Scenario 1: Long Setup
Trigger: SPY reclaims and holds above $510.27
Confirmation: Retest and bounce from $510.27 as new support
Target: Move toward the next key resistance at $537.75 (Y Mid)
Stop: Below $508 for risk management
🔴 Scenario 2: Short Setup
Trigger: SPY fails to reclaim $510.27 and faces rejection
Confirmation: Lower highs and rejection candles under resistance
Target: Drop toward $466.43 (Y Low)
Stop: Above $512 or structure high
📊 Indicators Watching:
Dynamic Support & Resistance
Neon Momentum Waves – signaling potential short-term reversal or bounce
📌 Notes:
$510.27 is the key inflection point.
Momentum and volume confirmation are crucial.
Be patient and let price confirm your bias.
🔔 Let me know in the comments how you’re playing this level – are you leaning long or short?
👍 Like & Follow for more setups!
Disclaimer: This content is for educational and informational purposes only and does not constitute financial advice. Always do your own research and consult with a licensed financial advisor before making any investment decisions. Trading involves risk, and you should only trade with capital you can afford to lose.
#SPY #SP500 #TradingSetup #TechnicalAnalysis #SwingTrade #MarketWatch #SupportResistance
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.
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.