SPX 3 min follow up and educational trade setup

    Posted by matt on 1st of Jun 2022 at 02:19 pm

    $SPX - Chart Link - after that wedge slight bounce price made a slight lower low, or really it was more of an intra day double bottom. 

    Your super low risk setup was that MACD KISS/Stochastic oversold setup there

    otherwise for now price has rallied back close to VWAP - if a higher low forms could be some sort of inverse H&S pattern

    Similar intraday setup just occurred

    Posted by timebandit on 1st of Jun 2022 at 03:34 pm

    Similar intraday setup just occurred going the other way: intraday double top with a MACD kiss, overbought Slow Stoch sell on the 3 minute chart. Doubt we'll get 50 pointsd off it, but I took a small trade

    UPDATE: bounced off VWAP, haven't stopped out yet but could happen soon...

    Good eye to catch that! 

    Posted by tgo5043 on 1st of Jun 2022 at 03:44 pm

    Good eye to catch that! 

    It actually came up and

    Posted by timebandit on 1st of Jun 2022 at 03:53 pm

    It actually came up and made a triple top with another MACD kiss/Slow Stoch cross. I am going to hold this overnight and may be kicking myself in the morning

    Sold this position after the

    Posted by timebandit on 2nd of Jun 2022 at 09:57 am

    Sold this position after the open. Same with FB.

    Update: SPX 3 min follow up and educational trade setup

    Posted by matt on 1st of Jun 2022 at 03:08 pm

    $SPX - Chart Link- busted above the VWAP earlier and stalled at the 200 MA, then pulled back and held that VWAP for now as support - good area for a stop if long, that spike low below the VWAP

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mark gladstone member since 04/10/2008

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