On the daily note that 60 Stochastic is still above 80%, so
that's one for the bulls for now.
On the 195 min 1/2 day chart, a buy cycle showed up right on the
opening candle
had a demark 9 on the 120 min chart on Friday (we were very
oversold) so logical bounce
One for the bulls would be the 4 color change
red,green,red,green on the 60 min chart bottom right, which shows a
possible ABC.
again there will always be some subjectivity with this stuff, at
least for awhile. I generally prefer to see the ABC 4 color change
on the 120 min and 195 min, which we don't have. But that doesn't
mean it's not correct for the 60 min, who knows. If one had to be
long, your stop would be at the lows Friday.
and honestly if someone bought 5 or 10 SPY calls, you could
consider selling a few just to lock some in. If you only buy one
call, you can't do that.
I may consider doing that for the trade lists in the SPY
section, instead of the 1st entry being 1 option, start with 2 so
that I can elect to sell 1/2 that option position for the website.
So it would go 2 options for 1st entry, 4 for 2nd entry, and 6 for
3rd entry instead of 1, 2, 3, which allows for scale outs
SPX KISS charts comments
Posted by matt on 21st of Jun 2021 at 10:18 am
large image shows the daily and cycle time frames
On the daily note that 60 Stochastic is still above 80%, so that's one for the bulls for now.
On the 195 min 1/2 day chart, a buy cycle showed up right on the opening candle
had a demark 9 on the 120 min chart on Friday (we were very oversold) so logical bounce
One for the bulls would be the 4 color change red,green,red,green on the 60 min chart bottom right, which shows a possible ABC.
again there will always be some subjectivity with this stuff, at least for awhile. I generally prefer to see the ABC 4 color change on the 120 min and 195 min, which we don't have. But that doesn't mean it's not correct for the 60 min, who knows. If one had to be long, your stop would be at the lows Friday.
updated KISS - price up
Posted by matt on 21st of Jun 2021 at 12:31 pm
updated KISS - price up against the ATR on the 60 min and 60 Stochastic at 50%
I placed a stop a
Posted by retirefire on 21st of Jun 2021 at 10:20 am
I placed a stop a little above the price of the SPY option. Letting it ride for now
that's probably good, no risk
Posted by matt on 21st of Jun 2021 at 10:22 am
that's probably good, no risk for you now.
and honestly if someone bought 5 or 10 SPY calls, you could consider selling a few just to lock some in. If you only buy one call, you can't do that.
I may consider doing that for the trade lists in the SPY section, instead of the 1st entry being 1 option, start with 2 so that I can elect to sell 1/2 that option position for the website. So it would go 2 options for 1st entry, 4 for 2nd entry, and 6 for 3rd entry instead of 1, 2, 3, which allows for scale outs
looks like the SPY call
Posted by matt on 21st of Jun 2021 at 10:24 am
looks like the SPY call option from Friday is trading at 22.2, was bought at 19.9 I think, not a huge move but up
Thanks Matt. Bailed out of
Posted by rfa300 on 21st of Jun 2021 at 11:14 am
Thanks Matt. Bailed out of the option at 23 and happy with the trade! Thank you!!