seed waves

Setup this afternoon across many issues.  The importance is having reasonable targets in mind and knowing when you're wrong.
CLF - went long in a REALLY stupid entry ($68.85).  Sat through the adverse move with the opinion that if it held the 50% retrace I would wait it out, and so it did.  Exited the majority of the trade just above (got a lucky pop) the 50% projection ($69.36) for safety sake.  Stopped on the remaining 1/4 position just under $69.

A number of issues were setting up the same profile at the same time.  These 3d setups trigger on the 5-min chart with a fast line going positive.  But if a seed wave has yet to form then it's best to wait for that seed wave before just taking the trigger confirmation on the 3/10macd as you can likely get better Risk:Reward setup around the 50% retrace point (wait for green bar on 5-min at this 50% level).

AAPL

SPY - notice reverse divergence between previous day's low & today's afternoon low on 15-min chart

There were more, but you get the idea.