Trade Plan SPY

SPY:

Levels:

Demand:

1. 447.91 to 448.84

2. 436.40 to 437.94

Support/ Reversal levels:

1. 448.

2. 438

3. 436.78

Supply:

1. 454.13 to 454.80

Resistance/ Reversal levels:

1. 454.45

Market News:

1. PMI 9:45

2. ISM services 10:00

3. Factory orders 10:00

Plan:

​Do not trade until 10:00 there is to much market news coming out and the volatility will be bad. After 10:00 if price moves downward into demand at 447.91 to 448.84 then look to take trades at 448. 448 serves as a psychological support as well as a Fibonacci level on the weekly timeframe. Once in the trade do not sell until stop loss, break even or price target. If price breaks down this zone during premarket do not trade. Only take levels that you have conviction and confidence in.

Risk Plan:

​Capital at risk:

​$17 (.17 stop)

​Emotions about the trade:

​Feeling confident in level, A little worried price will break down the zone in pre-market. If it does do not worry there will always be another trade that fits your setup.

​Price targets:

1. 449

2. 450

3. 451.21

Profits according to price targets:

1. 449- $188

2. 450- $243

3. 451.21- $313
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I think a general TLDR or Summary at the top would be ideal. Like, what are the two most impactful things you see for today. Doesn't even have to be why, could simply be what you're focused on.

Rico

Trade/ Risk plan SPY

This member connected a brokerage account and is sharing trades and portfolio performance with the community. 