-currently forming a bearish rising wedge
-lower highs in supply zone from 385-393
- ultimately bearish since FOMC is 7/26-7/27 and J. Powell was considering another 75 BPS hike
-looking for a reject at 385 to then come down to retest 373 again
-crossover of the 20/50 SMA at 10:30 July 14-15 on the 4HR chart
IF SPY pushes above trailing resistance line from 393-383 then this bearish set up has failed
I will only swing a put if we close at 383.70 or under
Always trade your own plan ;)
Sincerely Kai D3 Trades <3
-lower highs in supply zone from 385-393
- ultimately bearish since FOMC is 7/26-7/27 and J. Powell was considering another 75 BPS hike
-looking for a reject at 385 to then come down to retest 373 again
-crossover of the 20/50 SMA at 10:30 July 14-15 on the 4HR chart
IF SPY pushes above trailing resistance line from 393-383 then this bearish set up has failed
I will only swing a put if we close at 383.70 or under
Always trade your own plan ;)
Sincerely Kai D3 Trades <3
