Late morning divergence on $SPY
Being patient in this market has been extremely rewarding over the past couple of weeks. Waited for the right setup, and jumped on it today.
What you’re looking at here is a triple top on the 3m chart, which is my preferred timeframe. Price is coming back up to the same level making equal/similar highs, but not able to break above. While I’m seeing this play out, I’m also paying attention to the TSI at the bottom, we’re making lower highs at the same time the chart is making equal highs. This is another confirmation that I look for in taking a position.
I waited for a sell signal then grabbed $579 puts 0DTE, which ended up paying QUICKLY. Grabbed 30% and ended my day.
These are the types of trade everyone should be looking out for, especially when trading $SPY! Happy to help/answer any questions you might have, I want to see everyone succeed in trading, because it truly is cutthroat.
Hope everyone has had a great week, let’s smash Friday 🙏
Being patient in this market has been extremely rewarding over the past couple of weeks. Waited for the right setup, and jumped on it today.
What you’re looking at here is a triple top on the 3m chart, which is my preferred timeframe. Price is coming back up to the same level making equal/similar highs, but not able to break above. While I’m seeing this play out, I’m also paying attention to the TSI at the bottom, we’re making lower highs at the same time the chart is making equal highs. This is another confirmation that I look for in taking a position.
I waited for a sell signal then grabbed $579 puts 0DTE, which ended up paying QUICKLY. Grabbed 30% and ended my day.
These are the types of trade everyone should be looking out for, especially when trading $SPY! Happy to help/answer any questions you might have, I want to see everyone succeed in trading, because it truly is cutthroat.
Hope everyone has had a great week, let’s smash Friday 🙏