SPY Bear Flag Trade Ideas

8월 11일

This is a 15m chart, if you were to zoom out you'd see that the all important 537 area goes back to early.June, it was a gap.that was.filled last week. SPY has remained below since and is forming a nice bear flag. Last week it closed towards the top end, so we'll see if it can gap up above tomorrow or not.

If we gap.above I'll look for.longs on the retest of 537 or the bear flag, maybe both. If we do see this bear flag break to the downside, I'd look for puts on a retest. First short target is last week's low then the April low. First upside target is last week's high.