HomeTradingTradesSPY 12-9-15

Yesterday saw a perfect reversal at the PRZ levels we mentioned before market open, calculated of the 5min chart posted the night before. FANG stocks presented good opportunities with ABCD entries right after the SPY bounce of the PRZ.

Intraday, FB made it upwards to its 161.8%XA, AMZN made it almost to a 200%XA, and NFLX also perfect up to 161.8%XA

Since early November we see the SPY coiling up:

60min chart:

SPY-12-9-15-60min

As a result the entries for potential CD legs up or down, are getting closer and closer to each other. I call the area in between them as a “dead zone” : trading becomes more difficult, patience is key, and discipline required to wait for a setup.

It is to no surprise that the current “dead zone” is right at around the PRZ area of the daily chart we’ve been observing since the start of the Gartley pattern early October.

5min chart shows both entries just around 207, which was established after the bounce of the PRZ of the red colored pattern, we mentioned in previous posts. rest of the day yesterday it bounced around that level. Frustrating.

 

SPY-12-9-15-5min

I did an “allnighter” and brain cells to fried to trade. getting some rest, and be back in afternoon.


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SPY 12-9-15 — 1 Comment

  1. Pingback: SPY – NFLX 12-13-15 – Trade weekly options

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