CHART - II
- SPY is finding resistance at 110.
- If the breakout from triangle does not happen soon, more the chances of hitting 106 level at the bottom of the triangle.
CHART - I
- SPY daily chart is trading in a triangle formation.
- If 105 level gives support then SPY may rally towards the top of the triangle formation.
- So for this trade one can keep a small stop loss at 104 for a target of at least 110.
- But the main criteria the trend line in which it has taken support now should be held.
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