on a side note this is my favorite day trade setup: For a long
MACD goes above zero, 60 Stochastic goes above zero, MA ribbon goes
positive - then look to buy an abc pullback, I want to see MACD
stay above zero, the ribbon to pinch, the fast BPT MA Deluxe to be
red. I trigger off the high of the previous candle, then 1st stop
goes below the candle low or that wide ATR indicator. Then I move
stops up based on the BPT MA Deluxe - this shows the initial stop,
then the 2 higher low stops. I take multiple contracts, and
scale out, the trending contracts are held via the higher low
stops
for shorts basically the reverse, very simple KISS
from an Elliot Wave perspective basically what you are doing is
buying or shorting wave 2's or wave B's, which are are low risk.
Later MA ribbon pullbacks are wave 4s which are good too but may
not run as long. The first MA pinch is generally a wave 2 or b
basically
on a side note this
120 minute BPT MA just gave a sell ...
Posted by matt on 13th of Apr 2020 at 12:25 pm
on a side note this is my favorite day trade setup: For a long MACD goes above zero, 60 Stochastic goes above zero, MA ribbon goes positive - then look to buy an abc pullback, I want to see MACD stay above zero, the ribbon to pinch, the fast BPT MA Deluxe to be red. I trigger off the high of the previous candle, then 1st stop goes below the candle low or that wide ATR indicator. Then I move stops up based on the BPT MA Deluxe - this shows the initial stop, then the 2 higher low stops. I take multiple contracts, and scale out, the trending contracts are held via the higher low stops
for shorts basically the reverse, very simple KISS
from an Elliot Wave perspective basically what you are doing is buying or shorting wave 2's or wave B's, which are are low risk. Later MA ribbon pullbacks are wave 4s which are good too but may not run as long. The first MA pinch is generally a wave 2 or b basically
no the DVTS was not
Posted by matt on 13th of Apr 2020 at 12:47 pm
no the DVTS was not hit on the 120 min SPX, nor on the 60 min, see image. 120 min on left, 60 min on right.
Otherwise note the fast BPT MA is red on both time frames - thus if it goes green then you get a new higher low stop