SPY and QQQ both below their 21 emas and markets in red trading mode for me .
SPY - Lower lows and lower highs confirmed , lost of 50 sma , below 21 ema .
Potential stage 4 downtrend setting up ?
Entry 439.58 Stop 426.66 PT 426.66 .Sell half and go BE
Risk 0.5%
Komentar
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correction HL should say LH ( lower high )
Trading ditutup: stop tercapai
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Komentar
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Looking back at the trades so far this year and this is the worst one , it has all the elements of a good trade but no re entry after the initial stop which is a big fail for me . Will put this one on the wall to re-visit ... even if the re entry amounted to a loss , that's irrelevant . Re entry on an additional signal after being stopped the prior time , is very important , I missed this one and I am taking it as a lesson to work on .
Hey , I don't really look at time frames on how long a trade will run . I see that Spy is actually back above it's 10/21 Ema and getting pretty close to stop loss though so trade may no longer be valid.
A close above 21 Ema is green trading mode for me....
Mahmood7278
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Thanks for the analysis, what is the estimated time frame for 426 to hit?
NAK1987
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@Mahmood7278 having said that still stuck in an hourly range lots of larger candles and inside days on daily , so we still need that next candle up to confirm imo and qqq still under 21 tomorrow will hopefully give us a short term direction ...
A close above 21 Ema is green trading mode for me....