$SPX - Chart Link - here's the 2hr chart
that we've been monitoring. So for this pullback is about 41 -42
points off the highs, which is slightly more than the one in early
June of 36 points, so a slight symmetry break and from a MACD
divergence. However it's also not a strong symmetry break yet of
like 10 points more or something. Just have to see how this goes,
if price sells off hard again then it would be.
A positive for now is that the 60 Stochastic still remains over
80% while the faster 10 length is oversold, i.e. a possible
Stochastic momentum condition. here's a link below to read about
that if you haven't done so before. Of course price needs to
recover soon, if it goes lower of course that condition will be
lost
here's an example of 60 min SSO I posted a while back, if one
had went long off the lows, would have ratcheted stops up now 4
times to the higher lows. the stop 4 would not have been hit yet,
but price needs to recover right away, if price does recover
however a stop #5 would be in place.
again that's just an example us setting stops at higher lows via
60 min time frame
SPX 120 min comments
Posted by matt on 25th of Jun 2019 at 02:03 pm
$SPX - Chart Link - here's the 2hr chart that we've been monitoring. So for this pullback is about 41 -42 points off the highs, which is slightly more than the one in early June of 36 points, so a slight symmetry break and from a MACD divergence. However it's also not a strong symmetry break yet of like 10 points more or something. Just have to see how this goes, if price sells off hard again then it would be.
A positive for now is that the 60 Stochastic still remains over 80% while the faster 10 length is oversold, i.e. a possible Stochastic momentum condition. here's a link below to read about that if you haven't done so before. Of course price needs to recover soon, if it goes lower of course that condition will be lost
https://breakpointtrades.com/education/legacy/?nl_id=3304
Update: SPX 120 min comments
Posted by matt on 25th of Jun 2019 at 02:42 pm
$SPX - Chart Link - clear symmetry break now with 47 points off the highs
nice exit on the SPY
Posted by matt on 25th of Jun 2019 at 02:42 pm
nice exit on the SPY system yesterday at the open
That was a great trade.
Posted by chapgolf on 25th of Jun 2019 at 03:03 pm
That was a great trade. Thanks much. I am still long some SSO based on the PMOBUYALL trade. Stop below last low on daily.
here's an example of 60
Posted by matt on 25th of Jun 2019 at 03:15 pm
here's an example of 60 min SSO I posted a while back, if one had went long off the lows, would have ratcheted stops up now 4 times to the higher lows. the stop 4 would not have been hit yet, but price needs to recover right away, if price does recover however a stop #5 would be in place.
again that's just an example us setting stops at higher lows via 60 min time frame
Put/Call is 0.95 (moved up
Posted by steve on 25th of Jun 2019 at 02:14 pm
Put/Call is 0.95 (moved up after being subdued the last 3 days)