If you look at a 5 day chart of SPY, you can clearly see that gap ups have been fading lately.
Market still in bear territory, so easier trading has been shorting the gaps as we have doing in our chat room with some really nice gain with minimum risk. No reason to change the game plan that has been working so far. Market needs to prove itself and SPY now has clear resistance at 199.47 , short term support at 190.70 area and all chop in between which can produce some nice day trading opportunities. We are sticking to day trades only , shorting resistance and buying support. You only get so many opportunities during the year for a volatile day trading environment. It leads to some more stress as the losses can be magnified but if your day trading strategy is strong you can compensate and really get some amazing returns.
If you are struggling with your trading or learn how to trade you need to join our 60 day Bootcamp course. Our program is designed in such a way that you come out of it ready to trade live in just 3 months. We teach you everything from risk management to scanning to trading strategies. I also share my profitable intraday trading strategy which will make you money short term regardless of Market condition. The class is one of a kind, see why you should sign up for the course here . You will also have access to a private community where you can ask questions, share charts and talk with the instructors or other traders. You can also check out the testimonials from our students.
Also if you are interested in our day trade alert services and chat room , take a free trial! Check them out here.
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