alleytrader

Swing style SPY trade

alleytrader アップデート済   
AMEX:SPY   SPDR S&P 500 ETF TRUST
I am focusing on lower or higher highs. My bias for entry is bullish. Entry means new shorter term trades will be long. Will be longing for a lower high. If the market does not come as a lower high then focus on higher high and remain Bullish.

When we roll over to the short side I then will trade short and look if we get lower lows or higher lows.

I Enter swing trades long on days that are strong up moves. And know my last few trades are probably going to hurt a little.
Each day before taking a trade I watch the strength of the market and place trade well after the days open has washed out.
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Be careful could be some chop tomorrow
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CPI, caused this to drop out of the distribution it was in and go right to peak of the one below.
When i am trading a range i back off around mid way, yesterday did not add
still inside the area identified but darned impressive drop.
will post new idea tomorrow after see how it acts from here
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Forgot to mention this, todays drop landed almost dead on a virgin poc from 4 days back

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