SPY gap up day.
Price sold off showing a falling wedge on a reverse divergence.
Three potential entries. I entered on the first up-arrow (5-min chart) for the 50- & 100% projection targets. Later re-entered on the third up-arrow with a target of the day's high (corresponding with the lows of 7/20).
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 email@example.com
I am always open to questions, comments, or suggestions on how to improve this blog.