Bulls are currently hopeful and buying every dip. Breakouts commonly fail in bear markets so trade this one cautiously.
From the bottom of the cup to the top, we're able to project our target to about 3100.
The breakout point was around 2650 where SPY broke through strong overhead resistance including the 200 week moving average. The price came back down to confirm the resistance was now support.
Stop loss would be somewhere below 2650. If this support breaks, lookout below.
From the bottom of the cup to the top, we're able to project our target to about 3100.
The breakout point was around 2650 where SPY broke through strong overhead resistance including the 200 week moving average. The price came back down to confirm the resistance was now support.
Stop loss would be somewhere below 2650. If this support breaks, lookout below.
註釋
Why this breakout could fail:交易結束：目標達成
Target of 3100 was reached. Congrats to all who traded.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。