sometimes best to focus on trend at hand, were some nice signal
on the 3 min, here's a 3 min SSO with BR squeeze, about 20 min ago
you had an inverted hammer up there for a nice trigger
$SPX - Chart Link - that new low was
needed to make a proper wedge for 5 waves, so a wedge is possible
here, however it doesn't have to play out, just noting it is a
better wedge possibility now
perhaps, unless the intra day divergence produces a tradeable
low, so far it has produced a bounce however if that doesn't hold
it could just go back down again.
however from an educational standpoint, here's a 5 min SPX, see
the 60 stochastic at the bottom of the chart, when it tested the
underside of 20%, that gave a really nice day trade short
entry.
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SPX 5 min
Posted by matt on 2nd of Feb 2016 at 12:14 pm
$SPX - Chart Link - some MACD divergence on a 5 min, however pretty ugly out there
$SPX - Chart Link - added
Posted by matt on 2nd of Feb 2016 at 02:43 pm
$SPX - Chart Link - added a symmetry move should it bust out of here
sometimes best to focus on
Posted by matt on 2nd of Feb 2016 at 03:14 pm
sometimes best to focus on trend at hand, were some nice signal on the 3 min, here's a 3 min SSO with BR squeeze, about 20 min ago you had an inverted hammer up there for a nice trigger
$SPX - Chart Link - that
Posted by matt on 2nd of Feb 2016 at 02:05 pm
$SPX - Chart Link - that new low was needed to make a proper wedge for 5 waves, so a wedge is possible here, however it doesn't have to play out, just noting it is a better wedge possibility now
$SPX - Chart Link - bounce
Posted by matt on 2nd of Feb 2016 at 12:45 pm
$SPX - Chart Link - bounce from the positive divergence as noted earlier
SPX 5 min
Posted by laouuu on 2nd of Feb 2016 at 12:56 pm
Looks like a trending day if using 60 ss on 5 minutes?
perhaps, unless the intra day
Posted by matt on 2nd of Feb 2016 at 01:01 pm
perhaps, unless the intra day divergence produces a tradeable low, so far it has produced a bounce however if that doesn't hold it could just go back down again.
however from an educational standpoint, here's a 5 min SPX, see the 60 stochastic at the bottom of the chart, when it tested the underside of 20%, that gave a really nice day trade short entry.