Thanks Matt for the educational

    SPX 5 min

    Posted by kevindeng0727 on 18th of May 2020 at 11:59 am

    Thanks Matt for the educational information. 

    So to decide if it's a trend day, we need to see a strong gap up (possibly above resistance) with no attempt to fill it in the first 15~20 mins, then we can add ES/UPRO? Is there anything missing in my current criteria?

    Thanks again.

    read over the educational newsletter

    Posted by matt on 18th of May 2020 at 12:36 pm

    read over the educational newsletter and previous posts: Typical strong gap up that does not attempt to fill the gap, generally you can tell within 10 - 20 min. I typically just go long as trend days push strongly higher despite the large gap.  I then try to add to that position on shallow dips the first 3hrs. UPRO can be used, and I typically just trade ES or MES these days. Then you get a standard 1 hr consolidation mid day that allows on a 5 min SPX cash for price to recycle back to or close to the 50 SMA, the VWAP, and a fast 10 length Stochastic to get oversold, while a 60 length stochastic remains over 80%. also MACD tends to recycle back near the zero level. Then typically you get another pop to a new mid intra day high in the afternoon. Price will either run until the close or you might get a pullback the last hr from some divergence

    again must be 1000 images of those 5 min charts here over the years you can see via the search feature on the trading community

    Thank you. I've read those

    Posted by kevindeng0727 on 18th of May 2020 at 12:48 pm

    Thank you. I've read those educational newsletter but these posts gave me a better idea on how to trade that.

Newsletter

Subscribe to our email list for regular free market updates
as well as a chance to get coupons!