4 trades in the SPY today.
-First short entry on 4c bearish continuation.
-The second exit from the first trade and a long entry taken was at the Previous Month Open price (coincided with the midpoint of the gap from 10/21 (position was small but good for $1/share).
-Short entry as price exited from the flag pattern. Covered as price recovered the PDL on tweezer lows.
-Long entry based on the 3d setup which happened very quickly and so I took the entire position off at the 50% projection.
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.