SQ has a night daily equilibrium playing out. We're looking for the hourly supports to break next week to signal healthy daily consolidation is coming to set a daily higher low above 64.69. I will potentially buy the hourly trend change, another strategy I may employ is to wait for the daily trend to change and break our resistance of 80.32 - that would eliminate some of the reward and some of the risk.
I'll be keeping an eye on SPY to ensure it does not break it's recent lows - if the market dumps to lower lows, I certainly do not want to be holding any swing positions!
I'll be keeping an eye on SPY to ensure it does not break it's recent lows - if the market dumps to lower lows, I certainly do not want to be holding any swing positions!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.