Waiting for SPY to go down once again
The trend change in SPY seems to be completed, but the weak volume calls for caution.
In fact, an extreme hidden bearish divergence can be seen in the VWMACD.
At the same time, an open gap beckons on the upside.
For this short trade, we choose our entry just below the gap close.
We are targeting the early October 2023 lows, resulting in a great RRR of 2.3:1.
If the price reaches our target zone before our sell limit is reached, we cancel the order.
In fact, an extreme hidden bearish divergence can be seen in the VWMACD.
At the same time, an open gap beckons on the upside.
For this short trade, we choose our entry just below the gap close.
We are targeting the early October 2023 lows, resulting in a great RRR of 2.3:1.
If the price reaches our target zone before our sell limit is reached, we cancel the order.
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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.