SPY Looking To Breakout - Cup & Handle Forming.
From now on I'm going to be leaving my bias out of these posts as I wouldn't want to corrupt anyone else's bias. With that being said, I'm going to let this chart that I made for your review speak for itself.
I will say one thing tho. If I had seen this setup before close on 7/10 I would've swung calls into today.
Possible scenarios:
(Trade with caution)
Let's see how this turns out though. We'll either test $322 and breakthrough to complete the V, hit $322 and consolidate for a couple days, or see a strong rejection around the $320 price point, give or take.
Here's a brief breakdown of the setup:
A bull flag pending breakout with a cup and handle setup confirming a possible breakout.
P.S.
Please bare with me as I'm still fairly new to TradingView and learning how to better my analysis. Feel free to give me a follow or a comment if you like the setup.
Thanks,
Ola.
I will say one thing tho. If I had seen this setup before close on 7/10 I would've swung calls into today.
Possible scenarios:
(Trade with caution)
Let's see how this turns out though. We'll either test $322 and breakthrough to complete the V, hit $322 and consolidate for a couple days, or see a strong rejection around the $320 price point, give or take.
Here's a brief breakdown of the setup:
A bull flag pending breakout with a cup and handle setup confirming a possible breakout.
P.S.
Please bare with me as I'm still fairly new to TradingView and learning how to better my analysis. Feel free to give me a follow or a comment if you like the setup.
Thanks,
Ola.
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