Trend-Day; Strong break outside a range

SPY-10MIN

 SPY-1MIN

HIGH PROBABILITY - TRADE TO HOLD SETUP

• You had extreme negativity in the market, the public was mostly focused on getting short and that the market was gonna fall again.
• You had an oversold market
• You had a market at support, when the prior day was a slow, felt "planned" negative trend day that was actually the accumulation of large players all the way to the bottom of the range.
• You had a strong gap up to the high end of a range, consolidated, and broke out at 10am
• The volume was huge and convincing at the breakout.
• Price stayed at highs and consolidated above the higher high consolidation.

The key was patience and wait for the right levels to get in. You had both a morning momentum play on breakout, and a support play at the highs.What a beautiful trend day. Learn to trade to hold