SPX / Simple Naked trading
Simple. Don't complicate it.
Looking for a long position opportunity and or short scalps.
We have 2 scenarios:
1. (RED arrow) Price will bounce off support so we can get an easy entry for a nice long position.
- We can enter on support or place a buy limit
2. (BLACK arrow) Price will break support and weed out the long buyers tapping the untested zone. Furthermore price will go back up to weed out the shorts, creating an inverse head and shoulder pattern.
- We can enter when market heads back up and retest the support (the right shoulder)
Looking for a long position opportunity and or short scalps.
We have 2 scenarios:
1. (RED arrow) Price will bounce off support so we can get an easy entry for a nice long position.
- We can enter on support or place a buy limit
2. (BLACK arrow) Price will break support and weed out the long buyers tapping the untested zone. Furthermore price will go back up to weed out the shorts, creating an inverse head and shoulder pattern.
- We can enter when market heads back up and retest the support (the right shoulder)
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