SPY - Keep loses small, let winners run
Just gave a little of today’s profits back on this $SPDR S&P 500 ETF Trust(SPY)$ trade. So let’s review it!
After a nice rally off the PDL support we got a pullback to the pre market high.
Following that strong pre market high bounce I took the calls off the first 13ema dip. Got hit with an ugly stop candle shortly after 🛑
Compare this with today’s $Invesco QQQ(QQQ)$ win and they are very similar setups.
The main takeaway is that we are essentially risking a 1 candle loss for a multiple candle win! Keep loses small, let winners run 🤙
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https://x.com/cs_tradess/status/1800253393497375140
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