$SPX - Chart Link - updated view, again
typical consolidation during this time like I said below. price now
back close to the VWAP. For now 60 Stochastic above 80%. however if
price is going to attempt another afternoon bounce price needs to
start reversing up right in here otherwise trend day done.
exiting a trade is always tougher for me than entering a trade.
Especially on the day trade index stuff since the market tends to
do weird things the last part of day I'm usually taking profits
before 10 or 15 min from the close or keeping a really tight stop
at that point
This is probably the most absurd market in history. Economy and
stock market are totally disconnected. Stupid fed should lend money
to small businesses instead of buying stocks
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Update: SPX 5 min comments
SPX 5 min comments
Posted by matt on 29th of Apr 2020 at 02:11 pm
$SPX - Chart Link - updated view, again typical consolidation during this time like I said below. price now back close to the VWAP. For now 60 Stochastic above 80%. however if price is going to attempt another afternoon bounce price needs to start reversing up right in here otherwise trend day done.
the FOMC obviously creating volatility
Update: Update: SPX 5 min comments
Posted by matt on 29th of Apr 2020 at 03:21 pm
$SPX - Chart Link again we bounced off VWAP as I said, and formed a flag. price moved out of it then pulled back to backtest it where it found support
Quick $1000 on that bull
Posted by tgo5043 on 29th of Apr 2020 at 03:25 pm
Quick $1000 on that bull flag trade! Thank you Matt! Your teaching on how the Trend Day works made all the difference.
Tgo - I totally get
Posted by z0ned on 29th of Apr 2020 at 08:04 pm
Tgo - I totally get the entry point on that trade but how did you set your exit price? Thanks!
exiting a trade is always
Posted by matt on 29th of Apr 2020 at 08:06 pm
exiting a trade is always tougher for me than entering a trade. Especially on the day trade index stuff since the market tends to do weird things the last part of day I'm usually taking profits before 10 or 15 min from the close or keeping a really tight stop at that point
Nice trade. kudos.
Posted by ssaffer on 29th of Apr 2020 at 03:41 pm
Nice trade. kudos.
thx guys, just trying to
Posted by matt on 29th of Apr 2020 at 03:38 pm
thx guys, just trying to help all I can
Bear flag on the 15.
Posted by ssaffer on 29th of Apr 2020 at 02:23 pm
Bear flag on the 15.
This is probably the most
Posted by arun on 29th of Apr 2020 at 02:21 pm
This is probably the most absurd market in history. Economy and stock market are totally disconnected. Stupid fed should lend money to small businesses instead of buying stocks