SPY 406 Level First Touch
I am watching how price interacts with the 406.86 midpoint level (Expecting a sell off)
This is confluent w/ 21 Exponential Moving Avg on the monthly candle time frame. Big deal on a first hit. Expecting resistance here
If this sets up how I wanna see it. I will be open to playing PUTS down to the 402 level hopefully. Would love to get a full 4 point rip out of this trade on the day
ONLY WAY I will not be taking this trade short is if we get that 406 hit outside market hours
OR
buyers are showing strength through it like it is not even there.
This is confluent w/ 21 Exponential Moving Avg on the monthly candle time frame. Big deal on a first hit. Expecting resistance here
If this sets up how I wanna see it. I will be open to playing PUTS down to the 402 level hopefully. Would love to get a full 4 point rip out of this trade on the day
ONLY WAY I will not be taking this trade short is if we get that 406 hit outside market hours
OR
buyers are showing strength through it like it is not even there.
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