In my first tutorial, I tried to show how price channels can be used to identify and validate strong trade setups. Additionally, I attempted to show you how to identify better trade setups from what I consider invalid trade setups. Understanding and maintaining at least a 2:1 Reward-to-risk factor for any trade you consider taking is essential. Secondly, it is...
SSO is a safer 2x leveraged etf of SPX than SPXL. It recently formed slight divergence & a big engulfing candle, probably due to oversold RSI & also short coverings after Thursday’s dump & pump with investors betting massively on both directions triggered by a high CPI report. Prices may return to the neckline (return to mean) next week. Not trading advice
Sso will follow spy on average 2 times better if going up and 2 times worse if going down. The orange is spy
A review of recent trendlines of SSO, SPLG, SPYV, IVW and UWM. First time shared analysis. Not investment advice, just sharing what I'm seeing.
Solid swing trade if support is held. stop loss set @ -1.20 and just below whole dollar.
Longer term trend is UP... No need to panic until proven otherwise...
Textbook symmetrical triangle... Watch out for breakout!
Not out of triangle just yet! Expecting big move coming up...
Big move is coming... I know that much...
SP:SPX AMEX:SPY
SSO Swing Down Lower Lows Color Blue Number 5
SSO Sideways After Swing Down Color Blue Number 4
SSO is pulling back nicely into a level of previous support. I will look for this to continue lower.
SSO has been consolidating at highs for the past several days. Today is gapped lower and pulled back to the previous consolidation level. This could very well be a false breakout, but I couldn't pass up such a good risk/reward ratio.
The S&P appears to be consolidated and moving sideways and I expect is will for at least the next couple trading days. Right now, the momentum is heading down, but I wouldn't expect the price to break below 83. After the downwards momentum fades, I would expect price to retest the the highs in the 84.25 range.