Ubaidy100

$SPY Consolidation Zone

Short
AMEX:SPY   SPDR S&P 500 ETF TRUST
We have pretty much been stuck in this zone for a couple of days not and yes it is getting frustrating. BUT we need to wait for a break above our 412 413 zone and target the 417 419 zone. If we reject 412 413 we need to confirm below 410.09 NO TRADING IN BETWEEN

1) My set up: Waiting for a break below 410.09 to confirm a lower low and also a confirmed rejection off 413 412 lvl. last confirmation is that we break the uptrend

2) Risk management: If we get below 410 by monday I WILL wait for a pullback and enter some 6-7DTE options and have my SL set at 20% and Aim to sell partial profits at 20% green and let runners run

3)I would go for something expiring the following week since we have range to the downside and I would look for 1-2 strikes out the money

Idee correlate

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