Trading Idea: Range Breakout Strategy

260
Bias: Neutral-to-Bullish (for breakout)


Setup:
SPY is consolidating between $520–534. A clean break above this zone could signal continuation toward the pivot level at 562.75.

Entry Options:
Aggressive Long:

Buy near current levels (~526), stop-loss below $520, target $534 short-term and $550–562 swing target.

Conservative Long (Breakout):
Buy above $534, on confirmed breakout with volume. Stop-loss just below $528. Target: $548–562.

Bearish Scenario (if breakdown):
If price falls below $520 with strong red volume, potential retest of $511 support and further down toward $500 or $480 (S2).

Short entry below $520, stop-loss at $526, target $511 then $500.

Volume Insight:
Strong green bar at bounce near $480 indicates buyer interest.

Current candles show indecision; breakout or breakdown will likely be volume-driven.

disclaimer: The trade idea presented is for educational and informational purposes only and should not be considered financial advice.

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