Matt, I followed you and got out at the right time. But now that
we have a double bottom, are you long again? I’m confused.
Or short again at VWAP? Sorry, just need help
interpreting comments.
I was I sold, and now watching to buy a small abc pullback on 2
and 1 min, 30 second charts where I can re enter long if I get a
trigger then place a tight stop. I get a trigger or I don't and it
may just keep going down. We have no symmetry break
My “play money” is less than 25k now so I can not trade
indiscriminately without being labeled a pattern day trader. Made
3k today. Good day! I think it is better for me to wait and
see if there is a symmetry break and then take the pullback if it
is. If the bottom drops out, I still have a little shorts left. If
my thinking is wrong, somebody please correct my thinking.
Thanks!
I would also monitor symmetry this afternoon - i.e. if we get a
divergent low and have a bounce larger than 35 points (which was
the largest intra day bounce) would be an intra day symmetry
break
I don't worry about the VWAP that much. I'll monitor it.
Otherwise my trigger is watching the MA ribbon, it pinched. I want
to see an obvious abc, which we got. It was almost perfectly
symmetrical with C = A. Then I look to trigger off a candlestick
low, then place my stop at the candlestick high once I'm
triggered
retirefire- see my sticky post - great educational example. also
I've been marking posts like this for educational that get saved
into a database, so I'm starting to build a library/database for
these. Eventually I'll make all those available to folks
SPX 5 min
Posted by matt on 13th of May 2020 at 10:52 am
$SPX - Chart Link - had a little abc move up
Update: SPX 5 min
Posted by matt on 13th of May 2020 at 11:49 am
$SPX - Chart Link - again guys I short ABC bounces, buy abc pullbacks - you can see how well that abc bounce worked for a short
Update: Update: SPX 5 min
Posted by matt on 13th of May 2020 at 02:55 pm
$SPX - Chart Link- updated 5 min view, we've had two abc bounces today that were short opportunities
now watch to see if price can form an intra day double bottom or not
Update: Update: Update: SPX 5 min
Posted by matt on 13th of May 2020 at 02:59 pm
$SPX - Chart Link - I did say to watch for a double bottom guys
Update: Update: Update: Update: SPX 5 min
Posted by matt on 13th of May 2020 at 03:46 pm
$SPX - Chart Link we had that divergent low I mentioned to watch for
Matt, I followed you and
Posted by mdgfain on 13th of May 2020 at 03:01 pm
Matt, I followed you and got out at the right time. But now that we have a double bottom, are you long again? I’m confused. Or short again at VWAP? Sorry, just need help interpreting comments.
I was I sold, and
Posted by matt on 13th of May 2020 at 03:06 pm
I was I sold, and now watching to buy a small abc pullback on 2 and 1 min, 30 second charts where I can re enter long if I get a trigger then place a tight stop. I get a trigger or I don't and it may just keep going down. We have no symmetry break
I can't post these real time
Thanks. That’s helpful
Posted by mdgfain on 13th of May 2020 at 03:08 pm
Thanks. That’s helpful
My “play money” is less
Posted by mdgfain on 13th of May 2020 at 03:21 pm
My “play money” is less than 25k now so I can not trade indiscriminately without being labeled a pattern day trader. Made 3k today. Good day! I think it is better for me to wait and see if there is a symmetry break and then take the pullback if it is. If the bottom drops out, I still have a little shorts left. If my thinking is wrong, somebody please correct my thinking. Thanks!
I did buy ES and
Posted by matt on 13th of May 2020 at 03:07 pm
I did buy ES and my stop is 2797 for example, bought at 2798.5, so 1.5 point stop
This SPY channel is driving
Posted by Walt on 13th of May 2020 at 03:07 pm
This SPY channel is driving me crazy. It is just begging to go lower, but just will not GO!
Elevator Down has arrived I
Posted by Walt on 13th of May 2020 at 03:20 pm
Elevator Down has arrived I believe
Poke of the lows with
Posted by steve on 13th of May 2020 at 03:31 pm
Poke of the lows with divergence on SPX and bounce
Yes you did Matt -
Posted by steve on 13th of May 2020 at 03:00 pm
Yes you did Matt - nice bounce
Update: Update: SPX 5 min
Posted by matt on 13th of May 2020 at 01:07 pm
$SPX - Chart Link - updated view
I would also monitor symmetry this afternoon - i.e. if we get a divergent low and have a bounce larger than 35 points (which was the largest intra day bounce) would be an intra day symmetry break
Update: Update: Update: SPX 5 min
Posted by matt on 13th of May 2020 at 02:01 pm
$SPX - Chart Link
if price makes another new
Posted by matt on 13th of May 2020 at 02:02 pm
if price makes another new intra day low on SPX 5 min, watch for MACD divergence or a double bottom potential
the ABC entries are doing
Posted by hoek2 on 13th of May 2020 at 01:58 pm
the ABC entries are doing great. Keep posting Matt!!
Matt how did you ascertain
Posted by retirefire on 13th of May 2020 at 11:55 am
Matt how did you ascertain an entry price?. I waited for back test of VWAP. TY
I don't worry about the
Posted by matt on 13th of May 2020 at 11:57 am
I don't worry about the VWAP that much. I'll monitor it. Otherwise my trigger is watching the MA ribbon, it pinched. I want to see an obvious abc, which we got. It was almost perfectly symmetrical with C = A. Then I look to trigger off a candlestick low, then place my stop at the candlestick high once I'm triggered
MATT, hanks for a great
Posted by mdgfain on 13th of May 2020 at 12:14 pm
MATT, hanks for a great call! Support at 2798. Good place to take some profits? I have SPXU 5/15 puts. Thanks!
Got it, sorry for repeat
Posted by retirefire on 13th of May 2020 at 12:03 pm
Got it, sorry for repeat question.
retirefire - see my sticky post
Posted by matt on 13th of May 2020 at 12:05 pm
retirefire - see my sticky post - great educational example. also I've been marking posts like this for educational that get saved into a database, so I'm starting to build a library/database for these. Eventually I'll make all those available to folks
nice re short below VWAP
Posted by retirefire on 13th of May 2020 at 11:21 am
nice re short below VWAP