Zeekii

CRON 5' OS Bounce (+54) PDD ATH Top Fish (Breakeven)

SPY had a pretty whipsaw week. Many directional changes intraday which made trading difficult. Have to remind cautious with day trades, possibly reducing size and increasing distance of stops to account for the increased volatility. Friday was another inside day with now the most important ranges being 279.3/275.45. Inability to break the lower high of the previous day was a signal that we were going to see continued downside on friday. The weak close increases the possibility of a bear break of the inside bar which will lead to more downside to the recent swing low.  There is still room for the bulls to work with to the swing low and am still looking for the Higher low to form. The HL will be marked by the change in trend on the hrly time frame. Will have to keep an eye on XLK and XLF as they are a large part of the SPY. If both XLF and XLK are unable to hold their lows, we will most likely see a Lower low on the SPY.

SPY has gone through a tough few days over the last 1.5 weeks. Hope everyone has been able to remain safe during this time. I've been relatively safe but made afew mistakes with certain stocks which now leaves me in the red a little but nothing too serious at the moment. One thing that I have learnt over the past few months of trading is to be emotionally detached from the P&L. Big spikes are times when you cannot sell if you were caught out. Wait for the bounce, you have already survived so much pain, it doesnt hurt to hold out for the bounce now. Obviously, if u had stuck to a stop it would have been better, but this is not too bad either. SPY corrected down towards 270.36 at its bottom. On 12 Oct hrly, there is a dragonfly doji. Someone or some people capitulated which might signal the bottom of this bounce is in. The following day's continuation up kind of confirmed it for the short term. We however have to remain cautious with Long positions in this ma...

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