That pause near yesterdays bottom and a real fast market those 2 pts could have been gone in a heartbeat. Whose to know? I bailed faster than you. Hey there's a higher high, go for it. I didn't pick this bottom so this may be the reverse of the century.
Just be careful of any zero line crosses to the upside, markets in a mood 3SMA+2 entry on ZLC, good for a 1pt scalp
Anybody into long term charts todays low further defined the lower trendline on the daily chart. A lower low today could be interesting.
Two more good trades today using the "Classic SPM", 2 min MACD is beginning to show divergence, the bottom is probably in for the day. JJ *** 10 Min Chart
everybody trading today must be studying the same system. I keep waiting for the crazy ass afternoon chop or some big shooter to fade one of these breakouts. Not so far, indeed the market is behaving well. To bad it wasn't last week when I still had a live account. Oh well 7.27 points net after commish. If I can do this for a week or two, I'll refund the account. Say Jimmie, you say you're trading SPM but that macd is nothing like what I've got. There's a Jimmy Jam in the Twin Cities, MN he's quite a celebrity with Timberwolve basketball. Actually I'm using stoch 14,1,3 and the signals are very good and firing before the macd cross. I'm using the cross of the fast line over the slow line not the zero line cross. The zero line cross on the stoch comes about the time the macd line cross and then if the macd crosses zero line all this is confirming everything. I don't take the first stoch line cross but the second. Check it out Snarly. 14:40 792.2 high is probably it for the day. Thats a major pivot point on the 15 min. chart and near the top of the current channel.