jpark86王

Trade recap 10/11 (trade #1) - $SPY 10/11 434p @0.55 - for a profit of 60% Why did I enter this trade? - As you can see on my chart (check picture below) I marked the premarket high as $436.37. I told you in my last post that the premarket high and lows are key levels to watch. - When market opened, we instantly rejected the premarket high on the first 5 minute candle, showing signs of sellers there. - On the second candle, we also rejected the premarket high and the high of day created in the first 5 minutes by the first candle. - I waited for the next retest to play puts on this. When SPY reached near premarket high (it hit 436.34) and started rejecting, I took my entry. Timestamps are posted in the Discord. You can double check. - My first target was the break of 435.71, as this is a strong resistance level, which has now turned into support: check A1, A2, and A3 (marked on the chart) where the SPY rejected 3 times. - Then check A4. The SPY bounced off of that same 435.71 level, so this is how I noticed that the resistance has turned into support. - At the same time SPY rejected, $GOOGL did the same thing, showing me that the market is weakening, as GOOGL started off very strong. - The ultimate target on this trade was 434.53 (which we hit and are trading below right now) Summary of the trade: Premarket high rejected 3 times, and a strong support level broke as well. Other large cap stocks started rejecting such as $GOOGL and $AAPL.

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