Hey Guys,
Looks like SPY accumulation on the 4hour and daily chart.
The pin bar isn't perfect, I would prefer that it is below the last daily candle, but still looks applicable enough for a short term trade.
I pointed out the volume because it has been decreasing the last 3 or 4 trading sessions, usually I look for more volume than the last two trading days on accumulation candle,
but looks like reversal volume to me.
I'll be buying SPXL tomorrow at the open most likely, just 1 or 2 contracts and plan on holding a day maybe two.
Thanks for reading.
Looks like SPY accumulation on the 4hour and daily chart.
The pin bar isn't perfect, I would prefer that it is below the last daily candle, but still looks applicable enough for a short term trade.
I pointed out the volume because it has been decreasing the last 3 or 4 trading sessions, usually I look for more volume than the last two trading days on accumulation candle,
but looks like reversal volume to me.
I'll be buying SPXL tomorrow at the open most likely, just 1 or 2 contracts and plan on holding a day maybe two.
Thanks for reading.
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FYI I will not buy if there is a big gap up. I probably should of entered this eod today in all honesty..