SPY Trade on May 17, 2022 11:17 from ricky_trades: Tradervue User Stock Trades.

051722 notes

morning was a chop fest
we gapped up overnight
feds are speaking today

4050 breaking down
spx gap fill to 4k
wanted to get in but we are selling off aggressively
will wait for a bounce
currently at 4040
will wait for retest and reject of 4050 for entry
we bounced off the 4035 level
glad i waited
waiting to see if 4050 holds
waiting for break of trendline short term

right now at 4050 holding but weak

got in poor entry
4050 holding
we pinned i should have waited for the 5 min candle to close
volume is so/so
movement is slow
need to zoom out 30 min chart shows clear green candle

should have waited for close below 9 ema and 5 min candle to close

currently forming a cup and handle pattern
BULLISH*
powell set to speak at 2pm

1:45 pm currently forming a bearish wedge

the reaction to powells interview was not great
we are selling off at the moment.

heavy selling pressure

market is indecisive with powells speech

market rallied a bit

i did have a stop loss that i should have held and triggered
but i removed it
didnt want to be wrong
need to work on this

wound up swinging this put overnight

5/18/22
we wound up selling off overnight
i came out just about break even this morning or slightly down

we are trying to break yesterdays low of day
currently in a demand area but looking weak
we are currently trying to retest yesterdays low
wound up selling off got out alive still not a good trade
risk mgmt and stops are key