We continue our trajectory up, thanks to these upward gaps that see absolutely zero selling pressure. My data is acting screwy at the moment (currently showing me a hanging man candle on the SPY daily!?).
A trend day could have been suspect given all the news related...blah blah blah.
Perfect low-risk entry on the SPY today was at the 20-EMA on the 5-min chart.Zoom into the 15-min chart and what do you see?Here's the 1-min with TICK.Well they got their close above Dow 10k....watch for follow-through tomorrow. Why the heck does my daily show such a long tail on the day's candle??
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at firstname.lastname@example.org
I am always open to questions, comments, or suggestions on how to improve this blog.