$SPX - Chart Link - so far trend day, I
tend to buy the gaps and add on small pullbacks - if it continues
to be a trend day again they all work the same - refer to past
examples, they typically run until about 12 - 1, then have an hr or
so of consolidation, then try to push again in afternoon for
another high, sometimes closing near the highs or pulling back the
last hr. The mid day hr long consolidation generally allows
price to recycle back to the 50 SMA on the 5 min. 60
Stochastic needs to stay above 80%
$SPX - Chart Link - note on the 5 min SPX
we are pulling back in that mid day time frame I suggested. My only
concern is the MACD divergence, typically on trend days don't get
that divergence until the second push to a new high in the
afternoon.
anyway watch the 50 SMA price normally retraces to retest that,
also MACD tends to recycle back to zero which it is trying to
do.
you obviously want to see 60 Stochastic remain above 80% or
close to it.
currently fast Stochastic 10 length is recycling, not yet
oversold
SPX 5 min
Posted by matt on 24th of Mar 2020 at 11:44 am
$SPX - Chart Link - so far trend day, I tend to buy the gaps and add on small pullbacks - if it continues to be a trend day again they all work the same - refer to past examples, they typically run until about 12 - 1, then have an hr or so of consolidation, then try to push again in afternoon for another high, sometimes closing near the highs or pulling back the last hr. The mid day hr long consolidation generally allows price to recycle back to the 50 SMA on the 5 min. 60 Stochastic needs to stay above 80%
Update: SPX 5 min
Posted by matt on 24th of Mar 2020 at 01:01 pm
$SPX - Chart Link - note on the 5 min SPX we are pulling back in that mid day time frame I suggested. My only concern is the MACD divergence, typically on trend days don't get that divergence until the second push to a new high in the afternoon.
anyway watch the 50 SMA price normally retraces to retest that, also MACD tends to recycle back to zero which it is trying to do.
you obviously want to see 60 Stochastic remain above 80% or close to it.
currently fast Stochastic 10 length is recycling, not yet oversold
Update: Update: SPX 5 min
Posted by matt on 24th of Mar 2020 at 01:44 pm
$SPX - Chart Link
huge 15 min of trading
Posted by 3rdmilcharts on 24th of Mar 2020 at 01:45 pm
huge 15 min of trading coming up
need to invalidate the bearish
Posted by 3rdmilcharts on 24th of Mar 2020 at 01:46 pm
need to invalidate the bearish candle on the hourly chart
here's the education page on
Posted by matt on 24th of Mar 2020 at 11:46 am
here's the education page on that
https://breakpointtrades.com/education/legacy/?nl_id=3297