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Two day trade?

Hey Market Pilots,

Right now, I’m feeling like I’m stuck between a rock and a hard place. I took two small trades, which if they work, might only go for two days. 

The SPY is near all-time highs as it keeps bumping along the Daily 50 SMA. On the surface, this should be fine, but I just am not getting the sense of strength around the market. It’s an odd push and pull because the SPY is up and many names are at double bottoms, which if these formations hold then we could see some upside. However, we need to keep in mind that if the SPY rolls over to the downside, these double bottom patterns could break lower and let some flood gates open.

The trades I decided to take are extended to the downside, at double bottom support, and have begun to use MA’s on lower time frames for support. If these work and the market holds up for the week, then we could get a two-day bounce to some overhead resistance such as a major moving average.

I specify two days because I placed the trades on Tuesday, and Thursday is the last day of the trading week before a 3 day Easter weekend. Since the market feels precarious, I really don’t have an interest in holding positions over an extended weekend where anything could happen on Monday.

It’s a tricky atmosphere right now, and as long as you recognize that, then you can contextualize your trades and not be caught off guard when things may not go as typically planned.

Your Profit Pilot, TG.

Having trouble making money in the market? Join me live on Wednesdays at 10:30 a.m. Central. I navigate the markets and answer your ticker questions in real-time. If it resonates with you, I would be thrilled to help you chart your new path in your trading career.

4 thoughts on “Two day trade?”

    • I trade all price range of stocks, but primarily $1.00 to $150. I give out alerts based on market action, but I communicate with my subscribers on a daily bases.
      If you want to sign up for trade alerts, go to SimplerTrading.com/Moxie.
      If you want to take the class on how I trade with the Moxie Indicator, go to SimplerTrading.com/Stocks

      Reply
  1. Confused. Is this an invitation to those who just took your moxie course ? Or an invitation to those who are signed up for Mastery ?
    Thanks

    Reply
    • Every Wednesday, at 10:30 a.m. CT I am on Simpler Trading’s Facebook and YouTube for 30 minutes. That is where you can catch me for free as I discuss current market events.

      Reply

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