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B The Trader
I Asked a 7 Figure Options Trader For Her Specific Strategy
Apr 24, 2023
A 7-figure options trader shares her Gap Fill strategy on SPX, emphasizing the importance of support/resistance levels and confirmation candles. The discussion includes stop loss strategies, setting profit targets based on candlestick patterns, and the impact of key levels like 3900 on market dynamics.
09:43
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Quick takeaways
- Using the GAP Fill strategy on SPX with options can help identify high probability trades by focusing on gaps in the market for better entry and exit points.
- Setting stop losses at previous support and resistance levels while waiting for confirmation candles can improve risk management and reduce the chances of being shaken out by temporary market movements.
Deep dives
Trading Strategy: GAP Phil Strategy on SPX with Options
The podcast episode discusses the GAP Phil strategy used on SPX with options, focusing on trading gaps that occur when the market moves overnight. The strategy involves identifying gaps between the closing and opening prices, setting support and resistance levels such as 3900, and entering positions based on confirmation candles. By waiting for gaps to fill and using psychological levels like 100-point levels as support and resistance, the strategy aims to capitalize on high probability setups.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode