IncomeSharks

$SPY - Been eyeing that gap since Tuesday and sure enough we just got it filled today. If you had held all the way to the gap target today you'd be looking at 5x returns. If you were happy with the quick profits it was a nice 2x.

As pointed out before the key to this strategy is doing it every day of the week because you never know which day is going to be the big winner. And also keeping your position sizes the same (or only adding on confirmation days) so that the days it doesn't work you only lose half or one unit size.

In hindsight today ideally if you went 1 size on the red color (first 30 minute close) and went another size on the confirmation, you could have closed the second trade for 100% to lock in gains, and let the other run for a 5x to fill the gap.

The success is finding a way that works best for yourself since everyone using different sizes and has different risks. A small account might want to hold all day, bigger accounts might be fine locking in earlier profits.

$SPY - We've gone from a trending/bullish market to a ranging market. This is why there's reason to be a little more cautious and be concerned because if this turns into a distribution channel we could see it lead to a bear market. If we consolidate in this channel and do push up higher it would just another accumulation (less likely but very possible for the rest of the year).

A ranging market is much tougher to trade where calls and puts can get chopped up and news is most likely to pump it to the top of the channel or bring it to the bottom of the channel.

$SPY - 30 minute candle strategy. First entry you start with your smallest position size on calls because green, second entry will be adding if it closes above the range. Closing/switching to puts on a rejection or close back into the range. Lower gap could fill today or tomorrow so have to be mindful of that.

In 10 minutes will post an update in the comments to see what the next move I'll take is.

Update: Nice 100% trade and will be done for the day with this one. There's a good chance for more upside but there is a lower gap that might hit today or tomorrow.

Update: Second photo added to show before and after.