SPY
Went into today with a short position and ended up holding onto it! Find and place good entry points and give yourself plenty of time in case price decides to turn against you; this helps to really mitigate taking large losses! ... that and little hedging!
Intraday demand formed around 282 which gave end of day bounce up to stretch for a higher high. As of now, this area we are in is anyone’s game which I stay out of. Could go to 285; 288; or even 292... who knows for sure which is why I wait for price to get to a level where I believe is a good entry point.
Kept my short going into today and added a small bit more to it. Again, giving myself time in case price decides to keep pushing higher. Think we are at a pivotal point here.
Intraday demand formed around 282 which gave end of day bounce up to stretch for a higher high. As of now, this area we are in is anyone’s game which I stay out of. Could go to 285; 288; or even 292... who knows for sure which is why I wait for price to get to a level where I believe is a good entry point.
Kept my short going into today and added a small bit more to it. Again, giving myself time in case price decides to keep pushing higher. Think we are at a pivotal point here.
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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.