$SPX - Chart Link- funny how we had that
first MA ribbon pinch on the 15 min, then of course futures spike
overnight and are up 40.
also unfortunately most of the cryto names I gave last night
(RIOT, MARA etc are gapping big as well). In the newsletter I
discussed how they had had nice pullbacks and looked like a trade
opportunity for aggressive traders
Thanks for explanation on stochastic going below the 50 but
lacking confirmation from closing candle on chart very enlightening
. On last night newsletter .
srusso1- that whipsaw confirmation method can be used for pretty
much any indicator. For example, on a MACD cross, instead of
selling the cross require a confirmation. Or use for moving average
crossovers like the 13 EMA crossing over the 34 EMA, or 50/200 day
etc, the confirmation method will filter out a good chunk of those
false signals. that said everything has some give and take -
always waiting for confirmation will cause you to enter or exit
late at less than idea prices waiting for that confirmation should
price then confirm.
anyway here's a post I made years ago showing this method on
moving average crosses
SPX 15 min. amd Crytos
Posted by matt on 9th of Mar 2021 at 09:23 am
$SPX - Chart Link- funny how we had that first MA ribbon pinch on the 15 min, then of course futures spike overnight and are up 40.
also unfortunately most of the cryto names I gave last night (RIOT, MARA etc are gapping big as well). In the newsletter I discussed how they had had nice pullbacks and looked like a trade opportunity for aggressive traders
Thanks for explanation on stochastic
Posted by srusso1 on 9th of Mar 2021 at 09:48 am
Thanks for explanation on stochastic going below the 50 but lacking confirmation from closing candle on chart very enlightening . On last night newsletter .
srusso1 - that whipsaw confirmation method
Posted by matt on 9th of Mar 2021 at 09:58 am
srusso1 - that whipsaw confirmation method can be used for pretty much any indicator. For example, on a MACD cross, instead of selling the cross require a confirmation. Or use for moving average crossovers like the 13 EMA crossing over the 34 EMA, or 50/200 day etc, the confirmation method will filter out a good chunk of those false signals. that said everything has some give and take - always waiting for confirmation will cause you to enter or exit late at less than idea prices waiting for that confirmation should price then confirm.
anyway here's a post I made years ago showing this method on moving average crosses
https://breakpointtrades.com/blog/post/222959/
https://breakpointtrades.com/blog/post/296929/