1) Check on SPY technical, notice good support at around 126.30 ~ 126.60 zone
2) Open market watch check out any major news
3) Forexfactory to look at economic data - good node on Unemployment claims
sentiment : Bullish
TOS :
1) Get ready 2 Call options
2) Set stop lost
3) Spotted Bullish candle around 9:45 am (US time) , get ready
4)When bid and ask close in, buy
5) Wanted to buy at $4.50 but did not fill. Buyers started picking up, raise once to $4.53, filled
6) Hit $5 profit sell 1, trail 1 for $0.05
7) Profit : $10 | Net P/L : Profit - Commission = $10 - ($1.25 X 2 ) X 2 contracts) = $5
After the trade,
Rule no. 1 Never buy the high, Never short the low
Rule no. 2 Wait for confirm trend
Entry on second wave might be better.
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