Trading the SLA/AMT Intraday

Breakout with a nice pullback. However, I have no idea where it's going to go, as it's all time high, and the upper daily channel is way up there.

Schaefer

 

Incidentally, if any of you are using the SLA, that little range is a reset. Start your DL at the LSL at 57.

 

No problem. If you have to go somewhere, just place a stop and go.

 

And now you have a useable swing point and can draw a better DL

 

NQ is way out-performing the ES. Which is not unusual.

 

I hope those who bought the DB didn't scalp the long.

 

This won't be going to 4500 today, so those who haven't thought about exit strategies need to do so.

Like now.

 

Locate the halfway level of this rally.

 

That is 4362.75, right?

 

Pretty much. Now locate the last swing low and you'll be prepared to formulate an exit strategy if you haven't already. DO NOT use a line of any sort.