The chart below of the $SPY is one I sent in to the editors of SFO Magazine Friday morning for THIS ARTICLE Unfortunately, by the time the article was out this morning, the market had gapped lower and the short could not have been initiated as outlined.
Technical analysis is largely about knowing where key levels of support and resistance are and then anticipating the potential trading scenarios which develop around them. If we can find what looks like a low risk/ high potential trade based on pure dynamics of supply and demand, that is when we transition the “science of technical analysis” into the “art of trading.”
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