šThe Sunday YEET: SPY Clones 3 Identical SPX/SPY 500% Trades, Remedial SPY Read, and Peer Pressured into BTC Chart
Trade Reviews, SPY Analysis, Flow
šNote to Plusāthis is the week to drill it and seal a new day: Iām a realistic assessor of where we are ,and I use our insane Q1 performance metrics as the standardāas of Friday Iād say Iām 80% of that trader, and I think this week we close the gap.
We are in the perfect position to return to our standard of excellence.
SPY: With two 500%+ trades and some 100%+ at targets sprinkled in, the hard stuff is becoming routine again, and losses are mostly related to correctable greed/target rust. The wrinkle is more so winning better than not losing.
Flow: we are finding a LOT of news. We canāt always say what theyāll do about it, but right now we are at an insane flow find: catalyst ratio. Highest Iāve ever had since doing flow.
Iāll bring my A game this week so Dan can once again be buying wine to celebrate on Fridays. See ya out there, when SPY chops to hell and this is anticlimactic.
šThe Free Section: A Tale of 3 Identical SPY Trades
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500% Trade 1 How To:
Basic mechanics here, but one key thing:
š§āš³SPY GAPS CREATED OVERNIGHT ARE A PRECIOUS GIFT!
Thereās automatically a play on the table that, if triggered, is an automatic multi-bagger because of the distance needed to cover the Gap. Iād say roughly 50% of the time they close it the same session, and 70% of the time by the following close.
This is as basic as our play style gets:
SPY survived weekly support
It has a bullish close above the Gap level afterwards
the next hour retests the Gap candle
š§ But what is the Secret Sauce that made this an SPX call-out rather than SPY (calling SPX second half of the day takes a lot of confidence, Theta is a killer)
š§āš³ The SPX Recipe:
A clear flag on the intraday time-frames
The flag has validated a support or resistance level on the hourly
And the third, and most important part:
šÆA Resolution TargetāUsually a Gap or a Monthlyāthat is a far enough away that its same-day closure will result in a quick acceleration in candles, and thereby contract premium.
ā
Loss-into-a-Win: Complete Whiff Analysis During the Sessions Leads to 160% Realization right after (more if WeBull let it be SPX!)
Wednesday I mess up early for an understandable price action nerd reason initially that you probably donāt care about. Then I made it worse by doing what Iāve always done on bearish directional whiffsāI bet on a bounce at support that donāt come.
But after I stop crying, I gather myself ,and look whatās right thereā
SAME SPX SETUP AS THE DAY BEFORE, JUST FLIPPED: Bear flag off the Gap level with the monthly as resolution, with two hours to go. I was extremely upset WeBull wouldnāt let me buy SPX that late, so we had to settle for a 160% at target. SPX wouldve been a 5-7 bagger. Again.
THEN AGAIN FRIDAY, MY GOD!
They left a Gap open to the downside like 6 points away from the opening action.
YEET Plus at first was going for a test of the blue gaps, but once it flagged in there it became clear the downside gap was on the table. Even if conservative with the first target it was a 150%+ playāfor those who went gap target, a 5 bagger.
šµSPY Tomorrow: Incredibly short because the read is incredibly simple
The SPY Read is really easy because of this Gap they created and all the backtesting weāve done. We will either:
a) Run up to the blue Gap levels, reverse to close, then bounce
b) Run up to the weekly-monthly area, which would be a more damning reversal and likely send us to the monthly just below the gap
šŖBONUS: BTCUSD
I popped open the bitcoin chart for funsies and it looks like itās going to rip
-Monthlies held with wicks repeatedly
-Uptrend
-Downtrend outbreak
-Plenty of room to the next monthly
š³YEET Sympathy Whale Find: COIN 230c 11/1 (we like the 215c if youāre spicy enough to go for a weekly, but 11/8 is the move for security)
This backtest was a perfect place to buyāif we get another retest of 203.23 and it passes we enter there. If it falls through entry is 196/01 with adjust strikes
