Monday, December 1, 2014

S P Y midday update 12/1

Again the $STUDY of Measured Moves and how to trade them increases Profit Probability-

Simply put , 6 days ago the SPY gapped up and traded inside the Measured Move(MM), from 204.16-207.84, but also had traded within the 1rst red candle(daily) post gap. Today it retraced to the BUY ZONES of 206-205.56-the 50/61.8% and bounced back up. It so happens that rumor of a quick fat finger caused the extent of that wick below the 61.8%, but regardless it has presently reclaimed the 50%, which is bullish and vwap is currently 205.94- which is still above supports or within the Buy Zone.

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