Spm

Quote from romik:

2 possible entries, 1st loss, 2nd win & a Net +, unfortunately I was & still am short :)
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I'm beginning to like the MAC.
Is it still the 5 m. chart?
 
Quote from Charly:

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I'm beginning to like the MAC.
Is it still the 5 m. chart?
More...

2 min

One of the things that might save my short at the moment is the fact that 2 min chart features a very possible triple divergence in MACD/histogram=SPM & what looks like a H&S, hanging by the hair right now :)
 
Quote from romik:

2 min

One of the things that might save my short at the moment is the fact that 2 min chart features a very possible triple divergence in MACD/histogram=SPM & what looks like a H&S, hanging by the hair right now :)
More...

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Possibly basing for upside on longer TFs (5/10) does not look good for my short, I have to stick to the plan though, staying short until they take me out :)
 
Say Romik-ever think about changing your user name to "DaxMa$ter"? Just a thought. Nice trendline break there BTW.
 
This thread is a bit erratic as I just wanted to display a real-time example of an SPM using DAX & now this is turning out to be something else, so sticking to the plan I will finish it right here, perhaps I will post what happened to my current position (that is not SPM based).

Good luck all!

EDIT: I appreciate that comment PMA, I am sempai at best :)
 
My advice to anyone struggling with intraday trading would be to study TA patterns, find better ones like SPM & do the following:

DO NOT BE AFRAID TO ENTER INTO A POSITION NEAR THE TOP OR NEAR THE BOTTOM AS LONG AS:

A) TA PATTERN THAT YOU USE POINTS TO A REVERSAL;
B) PRICE IS TRADING BELOW RESISTANCE OR ABOVE SUPPORT;
C) TA PATTERNS BACKED BY A MAJOR TREND ARE EXPECTED TO HAVE BETTER FOLLOWTHROUGHS;
D) MARK STOPS EITHER ABOVE RESISTANCE OR BELOW SUPPORT
 
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