yep it's easy to get caught up in looking for bottoms when the
market is in a trend day and you should be looking for shorts.
reversed off the Vwap as Steve noted, also my Renko chart reversed
right off the large triggers and cycle. and reversed off the middle
bands and cycles.
I didn't take the day trade, been busy, just noting it
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SPX 5 min
Posted by matt on 2nd of Aug 2019 at 10:45 am
$SPX - Chart Link- obviously that bear flag played out.
here's an aggressive wedge like pattern on the 5 min some MACD divergence.
so far ugly day, big news at 1:45 from White House Tariff concerns, and of course it's a Friday, be careful out there guys
Update: SPX 5 min
Posted by matt on 2nd of Aug 2019 at 12:29 pm
$SPX - Chart Link - price is at symmetry, 19 points, so it either fails here, or busts through it
nice call on this one!
Posted by Orangeman on 2nd of Aug 2019 at 01:28 pm
nice call on this one! made 20% in an hour, still have a few puts riding trend dn.
Update: Update: SPX 5 min
Posted by matt on 2nd of Aug 2019 at 12:49 pm
$SPX - Chart Link - updated view - you can see how price pulled right back from symmetry that was posted away ahead of time
Update: Update: Update: SPX 5 min
Posted by matt on 2nd of Aug 2019 at 03:23 pm
$SPX - Chart Link update
Lovely move up out of
Posted by isplat on 2nd of Aug 2019 at 11:20 am
Lovely move up out of that wedge, Matt!
yep playing out!
Posted by matt on 2nd of Aug 2019 at 11:23 am
yep playing out!
remember it's a steep wedge,
Posted by matt on 2nd of Aug 2019 at 11:30 am
remember it's a steep wedge, and price would need to rally over 19 points to break that small symmetry there. It's Friday, there's news coming etc,
SPX rallied back to VWAP
Posted by steve on 2nd of Aug 2019 at 11:24 am
SPX rallied back to VWAP thus far
Steve : Can you please
Posted by generic on 2nd of Aug 2019 at 12:03 pm
Steve : Can you please post the VWAP chart that you are referring to, I am curious to see how it looks.
generic - it's also on
Posted by matt on 2nd of Aug 2019 at 12:08 pm
generic - it's also on the 5 min chart I always post, it's in purple
why didnt I short that
Posted by jcm2323 on 2nd of Aug 2019 at 11:39 am
why didnt I short that test!!!! Wouldve been a sweet long to short!
yep it's easy to get
Posted by matt on 2nd of Aug 2019 at 11:48 am
yep it's easy to get caught up in looking for bottoms when the market is in a trend day and you should be looking for shorts. reversed off the Vwap as Steve noted, also my Renko chart reversed right off the large triggers and cycle. and reversed off the middle bands and cycles.
I didn't take the day trade, been busy, just noting it