One of the scariest trades, but one that is high probability, high reward, low risk is buying into a pullback to strong support. I am buying the SPY as it pulls back today to the price area between $178 – $177. It is easy to define risk just below that price area with a price target to at least the previous highs around $182.
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SPY 60 min Chart
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SPY Daily Chart
About Stock Trade Journal
The information in this blog is not investment advice. Please consult a financial advisor before investing. I have been trading stock since the 1990's and survived the .com crash. I am developing software applications to help me trade better and now I am making them available to help other traders.
This blog is also a way to share my experiences and observations in the market.
