$SPX - Chart Link - as you know general
trend day. Here I marked symmetry intra day, 4.35 points was the
largest pullback intra day
Otherwise for trend days, dips get bought, then you typically
get a 1hr consolidation mid day which allows for a MACD recycle and
price to catch up to the 50 SMA on a 5 min, then another push in
the afternoon, as long as the 60 Stochastic remains over 80%
$SPX - Chart Link - well guys as you can
see the trend day played out exactly once again. We got that 1 -
1.5 hr consolidation mid day. Price pulled back to the 50 SMA on
the 5 min, and MACD recycled back to zero and 60 Stochastic
remained over 80%, and the mid day pullback back to the 50 SMA was
a low risk buy!
here's a newsletter I made about it a couple years go, this
explains it well with tons of examples. Otherwise they are gap and
go days, you can pretty much tell early on after a morning gap
SPX 5 min
Posted by matt on 19th of Feb 2020 at 11:53 am
$SPX - Chart Link - as you know general trend day. Here I marked symmetry intra day, 4.35 points was the largest pullback intra day
Otherwise for trend days, dips get bought, then you typically get a 1hr consolidation mid day which allows for a MACD recycle and price to catch up to the 50 SMA on a 5 min, then another push in the afternoon, as long as the 60 Stochastic remains over 80%
Update: SPX 5 min
Posted by matt on 19th of Feb 2020 at 02:53 pm
$SPX - Chart Link - well guys as you can see the trend day played out exactly once again. We got that 1 - 1.5 hr consolidation mid day. Price pulled back to the 50 SMA on the 5 min, and MACD recycled back to zero and 60 Stochastic remained over 80%, and the mid day pullback back to the 50 SMA was a low risk buy!
Hey Matt, I am a new
Posted by kevindeng0727 on 19th of Feb 2020 at 03:47 pm
Hey Matt,
I am a new member here. Is there any methods to predict (or to estimate the probability of) a trend day in advance?
Thanks
hello and welcome! here's a
Posted by matt on 19th of Feb 2020 at 04:00 pm
hello and welcome!
here's a newsletter I made about it a couple years go, this explains it well with tons of examples. Otherwise they are gap and go days, you can pretty much tell early on after a morning gap
https://breakpointtrades.com/education/legacy/?nl_id=3297
Darn - missed that one.
Posted by pjtiii on 19th of Feb 2020 at 03:29 pm
Darn - missed that one. I need to figure out a way to get rid of this pesky 9-5 thing I have. It's so distracting to my trading :)