toddstrade

fri 1_27

2012-01-27T16:30:00.002-06:00

The SPY set up the 3d criteria while the trigger coincided with both a 3d criteria on the 5-min chart and a trend line break.

POT had a decent trend to it and price continued higher after it pulled back. Two entries with very small stops in place.

SINA was a heart-breaker. Position size was small and exits were way too soon. Trade was based on the 3d setup. First up-arrow long and sold at the highs of the day. Second up-arrow long and sold at around $64.80 (was shooting for $65.38 resistance but what I perceived as failure under $65.25 made me get out.

and of course here is what it did afterwards...uggh

thurs 1_26

2012-01-26T18:49:00.000-06:00

When the 2c-2d fails:
There comes a time when buying the dip in a trend doesn't work out. Today was such an example; where the 2c-2d buy setup turns into a 4c short setup.
Coming into 11:30 (CST) we had a 2c-2d criteria which was also a momentum buy divergence. We got a buy signal (following the 3d setup on the 5-min chart) but price failed at resistance and rolled over. This roll-over turned into a 4c short setup on the 15-min chart.

Wed. 1_25

2012-01-25T14:01:00.001-06:00

NFLX set up the 3d criteria into the close yesterday, was looking for follow-through on the open for a quick trade.

I was watching the 2-min chart for this trade, with a target of the 100% Fib. projection which lined up with a resistance level. I wasn't filled at the $95.15 price so just covered after the doji.

Big day in gold today.

NEM posted a strong day today.

again, the 2-min provided cleaner entry

Finally, another example of the 2c-2d setup in the ES today. The Fib. fan (5min chart) provides good resistance (magenta) and target (blue) points. Again, the 2c-2d is a reverse divergence and is buyable following the 3-pushes to a low (or inverse Head & Shoulders, 3d setup) on the faster time frame:

missed it

2012-01-24T15:24:00.002-06:00

Missed the entry in IBM this morning, but a good example of a strong trend continuation.

GMCR was a good 3d setup this morning

3d continuation

2012-01-23T21:50:00.003-06:00

3d setup into the close on Friday, continuation into this morning's open.

This was followed by a 2c-2d setup in the afternoon

2c in Crude

2012-01-23T19:45:00.002-06:00

A good example of the 2c-2d setup in Crude Oil today.
Reverse divergence on the 15-min chart that sets up the buy entry on the 5-min chart with an inverse H&S pattern.

wave 3

2012-01-23T09:25:00.003-06:00

A seed wave is a momentum move that follows a down trend which forms its first higher low, sending prices higher. Since the March '09 lows we have had 3 such seed waves.
The second seed wave coming off of the July 2010 lows has already run its course culminating at the 200% Fib. projection. The other two, however, are still in play.
Wave 1's 150% projection lines up with the Wave 3 50% projection around the $140 mark. While the 200% projection of Wave 1 has a $154 target, nearly lining up with the 100% projection of Wave 3.

Cycle update

2012-01-21T14:29:00.001-06:00

Thought I would update the bar count on the S&P500 cycles. If you're not familiar with the Stevenson PTT you can refer to the link embedded here.

Spanning the years 1995 through 2007 the S&P enjoyed quite a symmetrical cycle phase. We had:
- A 64-month rally from 1995-1999 followed by a 31-month selling phase for a total of a 95-month long cycle.
- The 2002-2007 rally lasted for 61-months, culminating in a 92-month long Inverted Cycle.
- With extreme volatility came the completion of our next Regular Cycle which lasted only 78-months due to the rapid selling which took place over the course of 18-months between Nov. 2007 & March '09.

The end of one cycle and the beginning of another is determined (by Stevenson) by the close outside of its Cyclic Trend Line or CTL. This actually happened back in July of 2011. The chart below shows a closer image and adds the CTL (magenta trend line), highlighting the price close beyond that point:

What is interesting is that IF the long time frame Inverted Cycle has concluded it would have done so in 44-months, which is pretty close to half the length of the previous three cycles (which would make sense given the extreme volatility). We can't say for sure that the cycle is complete (as price did make a higher low) and price is just throwing back to the CTL, or if the cycle is still intact. We can only say for sure that the cycle is still intact IF price takes out the May 2011 highs, in which case we would re-draw our CTL and consider the Inverted Cycle to remain intact.

Since the 2009 lows price has formed some pretty symmetrical intermediate cycles that have averaged 16 months in length, of which we are in the 9th month of an inverted cycle whose price and time target (red dash line) is just beyond the May 2011 high, projected to be within 7-months. Again, prices beyond the May 2011 high means that the longer-term inverted cycle is still intact.

weekly closed

2012-01-20T18:11:00.003-06:00

Price continues higher
SPY - strong close above $130

DIA
Keep on keepin' on

QQQ - $60 was oh so 2011. Base is in place

IWM - strong close above $77...game on

Fri 1_20 OpEx

2012-01-20T17:36:00.000-06:00

A 3d setup into the close on the SPY

While the DIA had a trend day

It would appear we are breaking out (on weekly charts).

Thurs. 1_19

2012-01-19T18:23:00.001-06:00

The QQQ has made a fresh 11-year high today. There's the chance that we could get a climactic capitulation move followed by a strong (healthy) correction, but then there's the chance that price completely detaches from rationality. Over the course of 1-year the QQQ has tried to achieve the $60-mark 4-times. Now it seems to be accepting $60 in its 5th attempt. Some bearish scenarios would be a blow-off top at the trend-line throw-back or a 2b-top setup. Otherwise, this rocket could be ready to launch. Maybe we end up seeing $70 before $55.

wed. 1_18

2012-01-18T17:33:00.001-06:00

Way too many setups to post today. There's always at least one 'good' day during the week of OpEx. The trick is to not get chopped-up in the not-so-good days of the OpEx week.
Here is a split time frame of the ES as we were going into today.
The higher time frame trend has been very strong and continues to put in higher lows and highs.
Starting from left to right; the 240-minute chart shows a strong trend with the 3/10macd showing the 2c/d criteria, so we would look for a 3d setup on a faster time frame. The 60-minute time frame provided the 3d setup while the entries on the 15-minute chart are highlighted with up-arrows.

Notice that the 3d setup occurred in the pre-market (around 5am EST) as well. In this case the move was quick and after testing resistance price conveniently returned to the 1287.50 support just in time for the Open.

update

2012-01-17T17:24:00.000-06:00

I posted this SPY weekly chart a while back showing similarities in price structure, then and now. Currently price is trying to recover the neckline to its previous H&S top:

And the DIA throw-back to its H&S neckline:

The QQQ and what could be perceived as a complex H&S pattern:

The IWM right at the neckline from its previous Head & Shoulders top:

It is what it is. Throw-backs often expend a lot of energy only to run out of steam and have the bottom drop out. It will take some strong upward momentum to recover, and it needs to do so soon in my opinion.

tues. 1_17

2012-01-17T16:51:00.000-06:00

Boring day. Many trades ended up being closed for break-even.
AMZN was a good long, but took it off WAY too soon. I actually exited on a trigger to go long (second up-arrow under the macd).

FSLR long was basically a b/e trade, really should have gone short at $40.25 for that 2b short setup

GS long, another b/e trade. I was targeting the $100.35 area and price just came short. The short setup played out well though (2d-to-4c continuation, a.k.a. Bear Flag). The first up arrow and first down arrow are a long entry and the long Sell to Close.

Overnight ES

2012-01-15T19:55:00.000-06:00

Just a quick look at the ES overnight pre-holiday edition. Whatever it does likely will not include the higher time frame "big money", but it is what it is. A split view of the 15-min (left) and 5-min (on the right). The 15-min is showing the 2c-2d criteria (pullback following bullish momentum while showing a reverse divergence) while the faster time frame is setting up the 3d criteria at support. Looking for price to break the overhead trend line (on the 5-min chart) and the fast line turn green.

Well, it had a rough go of it, but was able to test higher without breaking down from support.

AAPL flag

2012-01-15T17:55:00.000-06:00

First of all, you just can’t shouldn't fight this trend:

It's worth watching this flag for a break higher

small inverse H&S on the intra-day chart

Of course, if it breaks that $418 area below it could create an abandon ship type of move and could be worth a short position for a day trade.

Copper Rally in the making?

2012-01-15T17:27:00.002-06:00

Interesting bullish developments in Copper.
The daily time frame broke out of a symmetrical triangle with decent volume after consolidating a strong sell-off. The weekly showed that regardless of the strong momentum behind the September selling, price consolidated constructively above a previous swing low (above $3.0).
This symmetrical triangle breakout gives a measured move which coincides with a 50% Fib. projection off of the seed wave which has formed since the October lows.

Look at the monthly chart and we get even further warning that price could rally hard from this point. After all, price broke down from a trend line that was in place since the January '09 lows and a throw-back to this trend line wouldn't be out of the question.
So, say we rally to our symmetrical triangle measured move (50% projection) but then fizzle out. This could then set up a pretty blatant Head & Shoulders pattern (neckline at the $3.00 mark).

Essentially, a rally looks to be in the works, but it would be prudent to stick with fixed targets (namely that $4.14 measured move price point) as there is obvious overhead resistance to overcome. Also worth remembering, should the breakout fail then longs will be trapped, creating a strong move in the opposite direction.

Worth Watching

2012-01-15T12:52:00.000-06:00

Going into this next week or two I'll be watching for AMZN long entries.
The higher time frames have a strong trend in place, with trend line support. The recent downside momentum was the largest ever, which could be an omen for things to come. However, this shows itself as a reverse divergence on the higher (monthly) time frame which often leads to snap-back rallies (which may or may not form its first lower high).
Monthly: Trend intact, reverse divergence (2c criteria).

Weekly: Trend line holding on a small divergence

Daily & intra-day charts:
The daily has an inverse H&S pattern on diverging momentum (setting up a possible 3d setup). Certainly wouldn't want to see it give up $170 below (actually wouldn't want to see it fail the 50% Fib retracement of the Head to right shoulder). The first hurdle above will likely come from the $182.76 level.
Primary target $199, secondary $216. Essentially I'd like to see a break of the overhead trend line on a strong momentum bar.

Higher Time Frame

2012-01-14T12:08:00.001-06:00

If you have read understood much of what I post on this blog, I use this confounded "code" (3d, 2c, 1a, etc.) simply as a means to describe (in shorthand) the criteria of the 3/10macd which in turn highlights a structure occurring within price. With that said, here is what is happening with the higher time frame S&P 500:
Here is a split window of the monthly (left) and weekly (right) price action.
Things of note;
2c set up on the monthly - which is really just a reverse divergence. When looking to trade a "2c" setup I look for a few things on the faster time frame which include a "3d" setup, 3-pushes to a low, and/or an inverse Head & Shoulders or strong seed wave, which is exactly what we see on the weekly chart (trigger to enter was 5-weeks ago on 12/16).

The only concern I would have with the above setup is the bearish tone to the trend on the monthly chart (50-period MA trending down while the 20-MA corrects into it) which can turn into a Head & Shoulders pattern (2b setup) or a climactic top (say at 1400). Essentially price is going to have to break out of this 1300 overhead resistance with some serious momentum (say greater or equal to the previous 10-month long upward momentum) which in turn could start a new cycle of higher highs. If momentum fizzles price can still go higher but price would give clues to signs of weakness.

Fri 1_13

2012-01-13T15:33:00.001-06:00

Resilient bulls.
Going into the open, provided there is a decent amount of pre-market activity, I like to keep my charts/indicators loaded with that pre-market activity. Here is what the SPY looked like going into the open; giving two short entries (4d-to-4c continuation; one before the market opened) and two long entries (based off of the 3d setup). Price is still running higher (last check was at $129.3).

Compare that to what it looks like without the pre-market

Just throwing in a chart of the SPY with breadth...A/D line was solidly bearish throughout the day, but it would seem shorts don't want to push their positions.

Higher time frame look....support held, though downward momentum was quite strong. Monday the markets are closed and Friday is Opex, should make it interesting (or really uneventful)

Some trades:
NFLX at the open this morning provided a continuation move (1b-to-1a)

entering on a faster time frame got you in a bit quicker, the 5-min trigger was late and extended
below the left-hand chart is a 2-minute

I also entered NFLX later in the day for a scratch

FAS was a quick trade that should have been held longer

thurs 1_12

2012-01-12T15:49:00.002-06:00

Another good example of the A/D zero-line acting as support today. First the initial bounce in the first half-hour of trade. Price support ended up corresponding with a -200 reading (mildly bearish). A/D line bounced at zero 3 times later in the afternoon as extreme negative TICKs on higher lows indicated a bullish divergence.

Some trades:
BTU - 2c setup. Later in the day there was the chance of a continued test higher, but ended up scratching at b/e

GS - continued to show strength (or squeeze).

Really disappointed in missing this as I was watching for it yesterday. A channel/flag break in NFLX

Also disappointed for not taking this short in the SPY this morning (2d-to-4c continuation, or simply, a bear flag). Notice that the 15-min 3/10macd (top indicator) showed a lower low while price made a higher low/double-bottom, which gives us a buy divergence, while the 5-minute 3/10macd formed an inverse H&S (as did price).

Wed 1_11

2012-01-11T19:09:00.001-06:00

Some decent setups today.
First was GS early in the morning and later in the afternoon (2c setup)

FSLR- I have two up-arrows on the 5-min 3/10macd. The first shows a valid long entry trigger, but I didn't take it as price felt extended. I did enter on the second up arrow though.

GLD- into the close with a 2c setup

Thought I would include this chart of the SPY with the TICK and Advance/Decline. I mentioned in a past post about watching the A/D line and its interplay with the zero-line. Here was a good example of how sellers were hitting resistance points, but once the A/D line recovered zero the buyers seemed to be in control. Also worth noting, price held the 50% retrace from Monday's gap up.

tues 1_10

2012-01-10T19:16:00.000-06:00

I'm really not good on days like today; the big gap up day (or down for that matter). The momentum should tell you not to aggressively fade and what I would consider overhead resistance makes me hesitant to put on long entries. Not to mention a momentum indicator is rendered useless (until later in the afternoon when it catches up to price). What I end up doing to combat such a dilemma is use a "gap-less" indicator, one in which the gap is muted so that it doesn't exaggerate the move. As I mentioned, the indicator does catch up to price later in the day, so I just use this indicator for the first 3-hours of the day.
So, in the chart below I've done two things;
1) I'm using a gap-less 3/10macd indicator
2) I'm using a 5-minute chart, however, the first 3/10macd has settings that reflect the 15-minute time frame, while the second 3/10macd has default settings for a 5-min chart (also the moving averages have settings to reflect a 15-minute time frame).
So I have just combined two charts into one essentially. The two down arrows reflect short entries (first exit was at $129 support while the second exit was $129.2 after the double bottom). The up arrow was a long entry (half taken off at $129.3 other half for break-even).

and here is what it looks like using a regular 3/10macd. The gapless indicator made it easier to see a more bearish tone to the price action.

All-in-all not a fun day to be messing with the broad indices. However, there were issues that had a nice trend to them.

I missed the better entry in FSLR (first up arrow) but did get in before it broke higher (second up arrow)

NFLX illustrates a good example of when to take momentum divergences. It has had a strong trend these past few days and pulled back into support on higher momentum. Exits taken around $96 resistance zone.

monday 1_9

2012-01-09T16:50:00.001-06:00

2c setup in AAPL today didn't quite work out for me. Original stop was $0.80 which would not have gotten hit until the $425-test failure. However, I took a 10-cent loss on the position as I was looking for more of a squeeze move higher from my entry.

NFLX just continues to squeeze. If there is one pattern combination of Moving Averages and 3/10macd this is it. Exited 10-min before the close.

same as yesterday

2012-01-05T17:20:00.003-06:00

Basically the same scenario as the previous day;
Gap down
Buyers respond at support
Continue higher for the rest of the day
The 3/10 macd had similar characteristics as yesterday as well.
Instead of a V-bottom like yesterday we got a seed wave/ascending triangle pattern.
Exits are where indicated, however the entry was not the up arrow (apologies). Entry was as the power bar was occurring, entry price of $127.09.

more 2c

2012-01-04T20:28:00.002-06:00

Took GS long giving consideration to the 2c condition on the 30-min chart while the 15-min chart showing a stark reverse divergence. The faster time frame showing the inverse H&S pattern and 3d criteria. First target at the intra-day supply point (coinciding with the Open price). Second half taken off on failure to follow through. Not a great trade, but it worked out.

Here is another example of the 2c setup occurring in Crude Oil. The 50% target was hit without a hitch, but the 100% projection was hit only at the end of the session.

new year same setups

2012-01-03T16:56:00.000-06:00

2c setup - entering a pullback in a bull trend
Momentum shows a reverse divergence while the faster time frame shows 3-pushes to a low or inverse H&S pattern (3d criteria).
SPY

GLD

XLF

2011-12-20T15:13:00.001-06:00

3d setup into the close yesterday for a number of issues, here's XLF

Corn

2011-12-20T14:47:00.001-06:00

While I'm away, with limited broadband speed, my posts will be limited as well.
Here's a 3d setup in the daily chart of Corn.

similarities

2011-12-14T12:02:00.000-06:00

SPY weekly showing striking similarities to the 2007 top. It is what it is.

A/D zero-line

2011-12-14T11:53:00.000-06:00

An example from yesterday in the SPY of the Adv/Decl zero-line acting as temporary support. Mentioned before in this post. Coincided with a support level and TICK divergence

3d setups

2011-12-12T18:30:00.001-06:00

Some 3d setups into the close this afternoon:
IWM

AAPL

AMZN

selling

2011-12-12T10:23:00.000-06:00

Selling in the ES since the early morning. Here's how the SPY pre-market set up. Vertical lines on the 5-min chart being possible triggers to entry, the last of which was the market open.

The ES shows the whole picture a bit clearer

2c

2011-12-10T09:26:00.001-06:00

Examples of the 2c setup.
Being that the pre-market is so active these days it has offered some good technical setups of which the Opening sequence is just a follow-through.
Here, the SPY opening move was a drive off of this trend line break (2c setup, reverse divergence)

Here is one which I traded but feel I got "lucky". In hindsight this market was an inside day and didn't offer that reverse divergence to act off of

3d

2011-12-09T19:57:00.001-06:00

3d setups on Copper and Crude Oil

Fri. 12/09

2011-12-09T18:40:00.001-06:00

Today's SPY the opposite of Thursday.
Nice setups off of Support/Resistance

either way

2011-12-09T17:38:00.001-06:00

It seems a case can be made for either long or short at this point, depending largely on the time frame your context is framed in. Next year could really be setting up for a big move one way or the other.
From left to right we have the S&P500 monthly, followed by the weekly and daily charts.
For the bullish side we have:
- Higher time frame shows two very strong momentum moves up followed by divergent bearish moves (the most recent higher lows on lower momentum led to a buy divergence). We are currently setting up the 3rd momentum move up. Long term moving average is trending up.
- The weekly time frame is forming a 3d long setup with key resistance to overcome but giving price projections into the 1400s. Price is above longer-term moving average and trying to build value higher on the short & intermediate term moving averages.
- Daily time frame had a very strong bullish momentum move right up against the 200-day MA. Price is pulling back in a very shallow price range (correcting in time rather than through price) building strength for the next move. Short & Intermediate moving averages are oriented bullish as well.

For the bears:
- The monthly time frame indicates impending bullish momentum, but this momentum can diverge (for instance say we test 1400 and momentum is weaker than previous), or not diverge (giving us the right shoulder of a H&S pattern). Either instance leads to a 2b short setup which are always tops. The intermediate moving average is trending down into the long-term average (perhaps the first time the 50- & 200-month moving averages will have ever touched?).
- Making it above 1300 is half the battle, but doing so steadily with modest corrections lower is healthy. It took 9-weeks to establish this range higher above 1200. All moving averages are sloping down with the intermediate period average trying to level out.
- The daily momentum is divergent (higher momentum, lower price). Price is below a down-sloping 200-period moving average.

Another bearish thought is what follows on the monthly chart. A lower low isn't bullish. The '08-'09 momentum move (lower low) was very much bearish, and the '09-'11 move which followed was corrective in nature. So, price could fall into this very long-term triangle. That wouldn't necessarily be end-of-the-world bearish, but it would result in a long-term digestive phase that is more aligned with its life-long trend line.

3d

2011-12-09T10:13:00.001-06:00

Markets set up the 3d criteria into the close yesterday. Haven't stopped going up since.

4c

2011-12-09T08:26:00.001-06:00

Yesterday's multiple time frame chart. Trend day down, best entries were to fade the pullbacks to the Open and IB-low. "Triggered" trades occurred a couple of bars after those failed tests, a 4c-4d-4c continuation setup:

12/8

2011-12-08T15:10:00.001-06:00

No time to post....wanted to save this chart first. Trend day down.

2c setups

2011-12-07T16:47:00.001-06:00

In GLD

and AMZN

some charts

2011-12-07T15:18:00.001-06:00

SPY daily, trying to recover this "neckline"

ES consolidating under resistance. Tried to break down today but squeezed short positions. Can go either way as is the case when the market waits on news.

SPY today S/R levels came into play from the previous day and the lows tested prices from 12/02

SPY o/n

2011-12-07T11:21:00.001-06:00

Active overnight sessions come into play during the regular session

12/6

2011-12-06T15:17:00.001-06:00

Inside day.
A number of fake moves for most of the day. The Opening price acted as main pivot.
White lines are S/R from previous day/s. Purple line is intraday S/R.
A/D-line popped strong above the zero-line on the day's breakout (confirming). I was short just above $127 but really didn't capture the move down because of poor exits above 126.6.

3d setup played out (inverse Head & Shoulders) vertical lines being potential entries. I was long around the midpoint ($126.06) but....

... again didn't capture the strength of the move due to poor execution. Definitely need to work on this issue, all b/c I'm too over-focused on the fast time frame and not seeing the forest for the trees.

Here's another look at S/R points today, again, white lines from previous days. purple lines from the current day, yellow dash line was over-night high:

12/5

2011-12-05T16:55:00.001-06:00

Previous levels which came into play today:

The white lines indicate levels of interest (Support/Resistance). The purple lines where intraday points.

S/R

2011-12-02T15:21:00.001-06:00

SPY traded price ranges from 11/15, 11/16, and 12/1

S/R levels from 11/15-16

Adding S/R levels from previous two days we have this (green horizontal lines)

Put them together for today, you have this:

So, if price has been tested I can terminate the previous price level and add new ones in as they become significant (white lines). Not perfect, but what is? The results are helpful though and at time uncanny.

SPY

2011-12-01T16:33:00.001-06:00

Moves to the A/D zero-line while fading resistance worked well today. As the previous day was an extreme advancing day the 124.45 area was a previous day break-out level.

trend continuation

2011-12-01T16:10:00.001-06:00

Added the ADX in the 15 min chart to indicate the concept as mentioned over the weekend.

It looks as thought today's move could have been a short squeeze as price is narrowing into a rising wedge on not so wonderful volume. Not that it couldn't gap higher and squeeze higher, just that the structure seems weak:

Compared to the last time price rebounded off the 200-MA, forming the perfect seed wave on a 3d setup

TLT support

2011-12-01T16:07:00.001-06:00

Decent support level in the TLT being around $116.

3d long setup (best time of day for them is around 1:30 CST)

2c AMZN

2011-11-30T20:19:00.001-06:00

Here was a 2c setup gone wrong. At least I THOUGHT it was a 2c setup, but the "trend" was certainly not decided at this point. As the breakout failed (stopped out) I turned short quickly as the setup morphed into 2c-2d-4c continuation short setup...essentially sloppy and not worth the trade. $195 overhead looks to be a significant level for AMZN...keeping an eye on it.

2c

2011-11-30T19:51:00.001-06:00

AAPL ....adding this for the sake of having it on here. 2c long entry. Price pulling back in a bullish trend. Price forms somewhat of an inverted Head & Shoulders, or three-pushes to a low sequence.

Also, something which stood out for me was the symmetrical cycles which formed, wherein I harken back to the 'ol Stevenson PTT concept. Red lines are targets based off of the previous cycle and the purple line was the CTL which triggers a long entry. I actually traded this for a tiny gain as I covered almost to the tick before it rocketed higher....very frustrating

bull squeeze

2011-11-30T15:22:00.001-06:00

The day in the SPY as it unfolded. The vertical lines correspond to buying points on negative TICK readings once the market began to consolidate, but the payoff wasn't very rewarding throughout the afternoon (scalps for 15-25-cents).
I had a resting bid in at $123.86 (corresponding to the 9:30 breakout point) and sold it at IB high only to buy back higher (around vwap) as the market character began to change (forming that triangular seed wave). The position was taken off in full acci-fucking-dentally! near the highs of the day on an extreme TICK (meant to only take half). All-in-all an extremely disappointing performance today on a day that rewarded patience.

unreal

2011-11-30T15:02:00.001-06:00

Have been watching this 3d set up on the SPY weekly figuring it might initiate a long signal in a week or so, but today's daily action was a trigger to enter long. A pullback on the daily may take a while, but this higher time frame momentum wave is a doozy if there is follow-through overhead.

Review

2011-11-29T16:53:00.001-06:00

Continuation move off of the previous day's late afternoon momentum.
Some points to observe:
1). Opening gap-fill followed by a rally, notice how the A/D pulls back to the zero line, finding support.
2). First failed higher high & low on a waning TICK & A/D line.
3). Price pulls back to vwap on an extreme negative TICK reading (also coinciding with a 50% retracement of the opening momentum, as well as a pullback in the A/D line to +200 support, which is a bit better than neutral, a moderately bullish breadth.
4). Price attempts to extend the rally but fails at the initial lower high's breakdown point.
5). A higher low for both price and TICK at vwap (which coincides with a previous higher low & breakout point). Also continued support at the +200 A/D line leading to a triangle in price.
6). Triangle fails to break higher and A/D line fails to hold support (which then turns to resistance). Leading to an A-B-C corrective wave.
7). Lower lows in TICK higher lows in price. A seed wave forms on a +TICK divergence (support at the A/D zero-line as well).
8) Price rallies higher to test upward breakdown levels (shorts covering as a higher low becomes more confirmed). Also, the A/D line runs back to +200 where it pulls back off of (on an extreme +TICK reading), then attempts to break again, but fails. Price settles nearly to the penny of where it opened. Nothing gained, nothing lost and yet consisting of so much drama.

trend

2011-11-24T10:56:00.001-06:00

One of highest probability trades out there; entering on a pullback of strongly trending price (I added the ADX in there to show the degree of trend in case it's not obvious from the Moving Averages, but it can be useful as a component for an intraday scan).
The vertical lines on the 5-min chart indicate possible triggers to entry (if you need an indicator for that) or for a more aggressive entry, one could fade a red fast line reading on the 5-min. The best entries coincide with a pullback to the origin of the breakout (notice the large reverse divergence on the 5-min chart).
Of the 4 vertical lines (entries), only 1 would have resulted in a loss or break-even trade. The third entry never hit the ATR stop placement.

The SPY didn't have as strong of an ADX reading as that of TLT but still provided the same concept as that above. Look to fade higher price (green fast line)

But look to fade it in an area that corresponds with what can be considered a resistance level or overbought conditions (extreme TICK).
As the fast line goes green the first time a test of vwap corresponded to a new TICK high which was faded (though the payoff was a higher low). The second push higher tested the 9:15 breakdown point on extreme TICKs and went to test the lows.

As an aside, I did take the 3d long entry towards the end of the day. Price went beyond my stop by 4-cents before hitting both the 50% & 100% projections (though be it in a very choppy move).

scalpy

2011-11-22T18:05:00.001-06:00

A day for scalping.
Here are some snapshots which I found relevant throughout the day.
Charts arranged by S&P500 advance/decline differetial (left), the SPY (middle), and NYSE TICK (right)
First, about an hour into the day. A/D pullback to zero on extreme TICK reading was a good fade.

Next, a consolidation on the A/D line with a wedge in the SPY on TICK divergence.

The ensuing "rally"/squeeze back to the A/D zero line coinciding with the previous SPY breakdown point. Interestingly, a very large block trade at these prices and extreme TICK ended up foreshadowing a fading interest in higher prices.

Finally, later into the day price broke down and all extreme +TICK readings worked for a good fade (arrows down closely align with block trades, seen at the very bottom of the middle chart).

2011-11-21T17:20:00.001-06:00

Extreme bearish sentiment from the Open. Was a tough day. All I have today is hindsight and these two charts.
A really good example of a Price/TICK divergence off of the 10:30 (CST) lows. Also, extreme +TICK readings were good for fade scalps up until the sentiment shift.

And the sentiment shift occurring at noon on volume which compared to that of the earlier lows.

Adv/Decl line

2011-11-18T19:51:00.001-06:00

Worth watching intraday is the S&P500 Advance-Decline issues differential; whether it is positive or negative on the day and its interplay with the zero-line.
Just some snapshots here to show how it behaves, starting with today and going back to Monday:

Stayed positive most of the day and supported by the zero-line

Negative all day and extremely negative the later part of the day. When this extreme it works well to fade extreme NYSE TICK readings (around +800) for scalp trades.

Bullish breakout

Interesting to see volume spikes that turn the market. Here the A/D line showed a false breakout of the zero-line.

again, this is given even greater perspective using the NYSE TICK confirming with divergences or negative vs. positive A/D breadth

and here's Monday. This week saw a positive (bullish) A/D line on only 2 days, today being one of them.

momentum pullback short

2011-11-17T18:20:00.001-06:00

First short entry closed for a small loss. Second worked much better.

decent setups

2011-11-16T17:22:00.001-06:00

SPY - First two trades for 1R, last two for 3R. Really don't know why I didn't keep a small position on through the end of the day targeting that 50% projection off of the open gap.

UCO - 2c long setup followed by a 2b short setup. Covered the 2c long due to distraction.

Buy strength

2011-11-15T19:10:00.001-06:00

AAPL was really strong from the open, and got very frothy as it was about to break out from the IB high. A very smooth trade.

Bear Trap

2011-11-15T18:54:00.001-06:00

I'll admit, I wasn't very productive during this squeeze. Got short twice in the morning, one was a break-even trade the other a full stop-out (stop was set at $125.41, the high of the swing was $125.42). The long entry was simply a move back to the IB high just to recoup losses from the stopped out short trade.

Had I been paying attention to the 30-min time frame in time, I would have noticed the 3d setup taking place

2c pullback

2011-11-14T17:27:00.001-06:00

Mentioned last week about the 2c pullback trade.
I took a very small position at the first entry and exited at the first resistance level for 2R (price came within 3-cents of 3R fwiw).

ignoring signals

2011-11-14T17:12:00.001-06:00

Was thinking GLD would break down further than it did.
The two short entries were taken off at b/e.
I didn't take the 3d long entry (inverse H&S), which of course paid off well.

gap down

2011-11-14T16:57:00.001-06:00

A gap down below one of Friday's support levels. Continued rejection of the Open as we went sideways for over 2-hours on the SPY leading to a break down to test previous support; reaching a 200% projection of the Open vs. Previous day's Close on a momentum buy divergence. Toward the end of the day we got a 3d long entry (3-pushes to a low) on tweezer lows.
5 trade entries today ("R" based on the ATR of the 5-min chart):
1. Short stopped out at slightly higher than b/e.
2. Short worked for 3R. Was looking for the 4d-4c continuation short as I was in the first trade.
3. Stopped out full (1R). Looking for re-test of lows.
4. Short worked for 3R. Looking for re-test of lows
5. Based on 3d long entry. Exited full at the 50% projection because I thought we might roll over with the strength in TLT. But price tagged the 100% projection anyway (was a 3R trade as well).

2011-11-12T19:03:00.001-06:00

Just some notes.
Extreme advancing day on Friday.
The profitability of the day was really over by 10:00 CST unless you wanted to scalp for dimes. The best secondary move came between 11:30-12:00.
$127 was the line in the sand overhead (missed it by 1-cent initially and the re-test missed by 2-cents).

A lot of little air pockets and island reversals these past few weeks. Looks like it will take some juice to get to $130 but the MO of this market has been; If there is resistance, just gap above it.

Could Go Either Way

2011-11-10T19:48:00.001-06:00

It is as if the markets are waiting on any headline to send it in either direction.
A price dip was bought today, yet again, and was just able to recover above its 20-day moving average. There is a gap overhead which would be healthy to fill, but wouldn't necessarily entice a direction either way.

Looking for clues:
The TLT fell below, but rallied back above, the $116 price today (on volume); a significant level in my opinion.

The U.S. Dollar Index held a shallow retrace within its previous bullish momentum. It still looks somewhat messy, but seems to be attempting to establish a higher low bottoming process.

Crude Oil has been trending higher (on waning momentum) and mimicking the move of the broader markets. At this point it seems to want to test the psychologically important $100-mark at which time it could be telling in terms of exactly how much supply is at that level.

The EURUSD has exhibited selling strength on every rally higher since June. Lower highs looking to test lower lows.

So, we have the S&P500 treading water to stay above 1220, the U.S. Dollar Index trying to establish higher lows, whereas every Euro rally has been sold, the bond market holding higher (lower yields), hinting that "risk" is not quite back on, and Crude Oil coming into overhead resistance (still a lower high) after trending down since May. So, you decide, but things appear to be coiling.

3d rollover

2011-11-09T18:47:00.001-06:00

Came across this trade but was late to take it or I likely would have entered long. Price did reach a 50% projection off of the small seed wave but failed to follow-through.
Something to always remember is that when a 3d long entry fails it can often set up a roll-over short entry.

The 3d setup also presented itself later in the day across a number of issues. Here, in the SPY I entered long but scratched the trade as price faded off of the 50% projection. However, I didn't take the "roll-over" aspect of this setup as we were going in to the last 30-minutes of the day.

Momentum gap

2011-11-09T17:57:00.005-06:00

Momentum (gap down), pullback, extend. The picture-perfect "First Cross" sell signal today (First Cross sell being the slow line crossing zero and selling the first pullback in the fast line. Interestingly enough, yesterday gave a near perfect mirror setup with a First Cross buy signal).

update

2011-11-09T17:32:00.002-06:00

Updated chart from yesterday's SPY chart

Higher t/f

2011-11-08T16:34:00.000-06:00

Looking at the higher time frame Daily chart of the SPY.
The 3/10macd is indicating a potential 2b short setup (fast line has to tick down) with a 3-push pattern.
Either we get a bullish day which initiates another cycle of buying higher, or we get a bearish rejection candle leading to a corrective move lower (would confirm with the fast line closing red on the 130-min) and may even lead to a breakdown of the purple trend line on the daily chart.
(Upon looking at this again I believe it is mislabeled. The 2-push should be moved over one hump to the left and the "3-push" should be located where the "2-push" is).

2c long, 2b short

2011-11-08T15:40:00.003-06:00

The 2c setup again, as presented in previous posts, here & here.
Things to look for; Reverse Divergence on 15-min. Inverse Head & Shoulders, possibly a 3d setup on the 5min chart with a seed wave price pattern.

GLD presented the 2c long setup as well, but then rolled over giving a 2b short setup.
Look for the 4c-to-4d short setup on the 5min chart that coincides with a trend line break.

repeat

2011-11-04T16:32:00.001-05:00

Similar market behavior as the previous day where fading extreme negative TICK readings (-800 with volume support) throughout the day worked well.

Gap-down selling found support (again) at the previous week's Open, coinciding with a demand level from the day before as well as a 100% projection off of the gap (previous day's Close to today's Open).
Earlier in the week I highlighted the 2c setup and the reverse divergence, which is what we got this morning. Notice how the 5-min 3/10 macd forms a 3-push divergence and then triggers a 3d setup giving us a seed wave.

Gap Fill Squeeze higher

2011-11-03T19:32:00.000-05:00

This has all happened before, it will all happen again.We get a jolt of volume which is followed by a steep rising wedge/channel higher.

A nice gap-fill in the morning followed be a market with zero selling pressure.

Every pullback in the TICK to -500 or lower was a buying opportunity (bottom histogram is just a smoothed indicator of the TICK).

Reverse Divergence

2011-11-02T17:37:00.000-05:00

The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it. I use this criteria as a way to alert me to an existing condition of price. I trade the 15-minute time frame with the 5-minute to trigger me into a trade.

The 2c condition presented itself in the SPY today, leading to a reverse buy divergence (higher low in price with a lower low in momentum, often occurring in condition 2c). There wasn't a solid "trend" today (for my time frame) like there was last week, but price spent these past two sessions pulling back to a mean (20- & 50-period Averages) following the recent downward momentum which started off the week.
Some things which may be be present for a buyable 2c setup:
- 3-pushes to a low, evident on the 5-min time frame, often resembling an inverted Head & Shoulders pattern.
- The 3d setup on the faster time frame (look for a measurable seed wave).
- An orderly trend down which is broken, leading to price discovery back to a significant breakdown point.

There was upward momentum (gap above previous day's High) off the open this morning which spent the early afternoon pulling back. This pullback found support at the 50% retracement level as measured off of the previous day's Close to today's Open.

2c

2011-11-01T19:12:00.000-05:00

The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to them. I use them as a way to alert me to an existing condition of price. I use the 15-minute time frame to trade off of and the 5-minute to trigger me into a trade.

Criteria 2c: The 3/10macd Slow Line is trending down while its Fast Line is also trending down.
For this setup price should be trending Up (so the 20- & 50-MA will be moving higher with a symmetrical distance between them). Essentially this is demonstrating a pullback following relative momentum.
The key component is to look for a break of an orderly trend line.
Targets will be previous break-down points (levels of supply that have previously not been tested), watching for price exhibiting signs of weakness at these levels.

Recent 3d setups

2011-10-27T10:41:00.000-05:00

A couple of 3d setups on the daily time frame which played out.

EURUSD - could probably measure the Fib.s differently, but today's move is beyond what most were likely expecting (a squeeze upon a squeeze).

GLD - Again, the Fib projections are so-so

XLF

Copper -

2 short 2 long

2011-10-26T17:11:00.001-05:00

4 trades in the SPY today.
-First short entry on 4c bearish continuation.
-The second exit from the first trade and a long entry taken was at the Previous Month Open price (coincided with the midpoint of the gap from 10/21 (position was small but good for $1/share).
-Short entry as price exited from the flag pattern. Covered as price recovered the PDL on tweezer lows.
-Long entry based on the 3d setup which happened very quickly and so I took the entire position off at the 50% projection.

4 shakeouts

2011-10-25T18:00:00.003-05:00

4 trades, all for roughly break-even. Posting this for posterity's sake. The setups were a 4c continuation short (a small profit), a triangle breakdown (shaken-out b/e), a 3d long entry (covered commissions) followed by a short entry once the 3d criteria rolled-over (closed the trade for a small profit b/c I was frustrated & exhausted).

INX

2011-10-25T17:06:00.001-05:00

Striking similarities between the S&P500 now compared to March-May '08. Nearly identical 3/10 macd pattern with a short-squeeze rally in a bearish market (if one were to consider price under a 20- & 50-MA). All coinciding with the 1256 level; Support turned Resistance.

strong sentiment

2011-10-21T11:02:00.000-05:00

Very active pre-market
SPY

ES_F

A good setup for the strong sentiment day is to fade the extreme TICK
Notice either a new low TICK or a New low TICK combined with a price divergence. The first example illustrates where price made a lower low on a higher TICK (at vwap). Finally, look to play the little cup/handle pattern breakout

Down morning Up afternoon

2011-10-20T18:34:00.000-05:00

Long QID early in the morning. Two entries. The first I took a small loss on as the market was still coiling in the triangle pattern, the second entry had the follow-through that I was initially looking for. Partials taken at the 50% & 100% projections. I did keep 15% of the initial position on as a runner but took it off when price came back to the 50% projection (not indicated).

Covered the remainder of my SPY short position from Wed. afternoon before going long later today. Partial exits taken at the 100% & 200% projections.

recent examples

2011-10-19T18:11:00.001-05:00

The 3d "bottoms" (seed wave) and the 2b tops (which can mimic an "Avalanche" -type setup or often 3-pushes to a top setup):
In the ES

and in Crude

2c

2011-10-19T14:41:00.000-05:00

The 2b or 2d-2c criteria are indicative of good topping patterns to look out for. Just as the 3d will draw my attention to a potential bottom, this criteria hints at an impending top (defining tops/bottoms are dependent upon your time frame). First thing I would like to see is price closing, or attempting to close under the 20MA on the 15min chart. Today price rode the 20MA for over two hours before breaking down from its pennant pattern.
Three exits with a final portion (15%) held overnight (stop above $123).

SPY 3d

2011-10-18T13:04:00.000-05:00

Mentioned yesterday about this setting up. Worked nicely, complete with a perfect seed wave and inverse H&S. Patience was needed in achieving the 200% projection target, of which I have none.

meh

2011-10-17T17:50:00.001-05:00

A couple of setups.
AAPL 4d-to-4c bearish continuation. Price came back quickly and hit my trailing stop at +$0.95/share.

SPY 4d-to-4c bearish continuation. Entry was earlier than the technical trigger while the exit was based on the 5m that looked to be setting up a 3d criteria, +$0.68/share.
Also took the 3d long entry at the end of the day AND turned to go short. The long entry resulted in a $0.10 loss and the short I took got stopped out of with a $0.21/share loss.

I'm thinking the $120.20 area could be support tomorrow (or resistance if we open below). Looking to see if the 3d pattern that set up into the close will either follow-through or roll-over.

50%

2011-10-12T12:45:00.000-05:00

3/10macd is registering its highest bullish reading since March of 2009 exceeding the previous reading from August 31st (still a reverse divergence, it will be a reverse divergence until it surpasses the Aug 31 swing high).

Currently look to be in the 3rd push on waning momentum

SPY weekly

2011-10-10T17:34:00.002-05:00

First day of the week, so no telling how this weekly chart's candle will close, but a couple of patterns stand out.
On the weekly; 3-pushes to a low followed by a gap above the down trend line and 3d criteria on the 3/10macd indicator.
On the daily; A momentum buy divergence at the bear trap. The first test of the 50-day MA since 08/01 and we gaped at it and closed strongly above it. $120 looks like obvious resistance, a test of which would give a reverse (sell) divergence (higher high in momentum, lower or equal high in price). All of which would set up a very buy-able dip.

Closer look at the weekly. A rally back to $127 would set up a reasonable short opportunity :

par

2011-10-08T11:48:00.000-05:00

Percentage gains of the SPY short covering rallies so far....about par for the course.

These cycles have been perfect, all ranging from about 6-10 bars/days. A picture perfect example of Stevenson Price and Time Target theory:

FAZ

2011-10-08T11:34:00.000-05:00

I almost bought this as price was testing the 50% Fib. early in the morning. I flipped through some more charts, came back to it, and I missed the initial move.
A 3d setup occurred into the close of the previous day and failed to follow-through (which often allows for a a good reversal trade). Coming into the next day, consolidation at the previous day's low allowed for another 3d setup to form (I still consider this a 3d regardless of the fact that the 3/10macd technically showed 4d criteria. It is close enough and an indicator, and the criteria I ascribe to it, is just there to alert me to a condition in the market). After hitting its first target (previous day's breakdown point coinciding with the 50% projection) price formed a cup & handle pattern before breaking higher and taking out its next breakdown point (150% projection).

The 5-min chart has three up arrows in close proximity indicating probable entries. The average stop level for an issue such as FAZ is somewhere around $0.60-$0.90. So if you kept a stop below the most recent swing (about 90-cents away) you would have remained in the trade. If you kept a tighter stop in the 60-70-cent range you would have gotten stopped out twice before catching the breakout, which would have covered your losses and then some.

UCO

2011-10-08T09:17:00.000-05:00

Unfortunately this is a "hard to borrow" issue on the short side, but it's the only thing I've found that closely reflects the movement of Crude Oil. When a trend is strong (for my purposes the 15-minute chart with 20- & 50-MA's indicate trend direction and strength), and the trend in Crude has been bullish all week, you'll see these momentum sell-offs into support that are good buying opportunities. The momentum indicator sets up a reverse divergence ("Sling Buy") where there is a lower low in momentum and a higher low in price. The 5-minute chart demonstrates three pushes to a low forming an inverted Head & Shoulders. First target was the 100% projection which coincided with the price breakdown point. Position closed on price failing to hold the Open on waning momentum near the end of day.

wednesday

2011-10-05T18:32:00.000-05:00

A 3d long entry I missed today in the GLD

Long entry in CVX. Exited the majority of the position at the close of the bar at the down arrow, held a small position as a swing trade based on the higher time frame.

I went long FAZ based on the 3d criteria, but taken in perspective with the broad market after getting stopped-out (lost $0.60/share) I went short (there were actually shares to borrow!). I mentioned the other day that when a 3d long setup fails, it is usually profitable to reverse the trade. Exited the majority of the position at the 200% projection ($4/share) and held a small position overnight.

missed it

2011-10-04T18:08:00.001-05:00

Screwed up this 3d long entry on the SPY today.
The setup was more apparent on the 30-min time frame

I went long too early and didn't get back in when I should have :/

Should have gotten back in as indicated below, though it was difficult to chase a long in such a bearish market, especially without much of a pullback. You never know when a move like this is going to happen. The biggest disappointment was that I was actually anticipating a 3d setup for half the afternoon, then only to screw it up in the end is incredibly frustrating.

Anyway, the SPY daily left us with what appears to be a bear trap on a bullish divergence. 7% higher and I wouldn't be surprised to see new highs by the end of December :/

Oh yeah, and the SPY weekly is possibly setting up this 3d criteria as well (looking for green fast line and/or a seed wave on the Daily as trigger to entry).

The ES ALMOST made a tweezer low today. This could rally over 80-points and STILL be bearish.

The NQ still hasn't broken its low, has a similar 3d setup on the weekly (looks better actually) and can rally 130-points and STILL be bearish!

2011-10-03T18:21:00.000-05:00

SPY 4c-to-4d continuation setup.

AAPL long 3d criteria. I thought this was a b/e trade, but I actually lost about $0.25 on this. When a 3d setup fails often makes for a good short entry. Reversing this entry from long to short would have worked initially, but could have just as easily resulted in a stop-out considering the whippy move around 3:00.

The inverse names have been setting up for a while now. This would have been better off adding too rather than jumping in and out of as I did. First entry was a target of 1/2 position for $1, 2nd half b/e. Second entry was a stop-out at b/e and the third entry was for the move into the close for $1.

month end

2011-10-01T10:16:00.001-05:00

I posted this monthly chart a while ago highlighting the fact that the 3/10macd had triggered a 2c short bias, which often preceded the beginning of a bearish cycle:

The looks to be potential at this point for a bullish momentum divergence which could cause a rally and quite possibly creating a Head & Shoulders pattern on this monthly chart (next summer?). Purely speculating of course. The downside support (should we trade under current lows) should be quite solid though and a rally off of that area wouldn't come as a surprise.

bulls denied

2011-10-01T09:48:00.001-05:00

Oh well, the bulls just couldn't pull it off. Price looked like it might break out of this down trend line, but each test was sold.

Price closed right on the 78.6% retrace, so the only thing saving this market now seems to be a double-bottom.
The daily charts 3/10macd has been showing 4d criteria (pullback following bearish momentum). So the anticipation would be for bearish continuation (4c) or a squeeze to test higher resistance (3a). In order to anticipate this daily chart setup we use a some faster timeframe, I like to use a 130-minute chart because there are three 130-minute bars that make up a day.
So, if you're looking to swing trade this setup (4d-to-4c continuation) the entry came on Thursday like so;

At this point it's important to watch for a bullish divergence as price tests support. The faster time frames will give clues.

hmmmm

2011-09-29T15:13:00.001-05:00

If you squint hard enough things are actually looking a tad bullish here. It's possible this is turning into another bullish impulse wave which today held a 61.8% retrace. Price actually coiled/consolidated against this level for 90-minutes until breaking higher into the close and looks to be breaking out from this down sloping trend line.

SPY - Third test of support, followed by a momentum push up and a tight flagging retrace which held its 61.8% retrace today). So long as these 22nd lows aren't breached we'll have a higher low off of support (so we will next have to take out the 27th swing high above $119). If bulls step up at $119 price could launch higher.

IWM - $64.5 support held and price sprang higher today, a similar double-bottom that occurred in early September. Looking toward $67.5 resistance while a break above $68.50 could keep prices going higher.

QQQ - Double-bottom after Aug. 22nd and price has held $53 on numerous tests since then (big level to watch if we happen to move below it, otherwise to $55-55.5 resistance and a move over $56 could extend a move even higher.

DIA - a double bottom at $106 followed by a momentum move that is currently flagging.

There seems to be a case for the bulls here (at least for a relief rally), the ball may be in their court, we just need to see follow-through in that direction. Of course upper resistance will be shorted, but that may be the exact catalyst a rally requires (short covering).

Also worth watch for a clue is how Crude performs out of this trend line after successfully testing the $78 support (though volume sucked at the most recent test)

And here's the ES; broke out of this channel/flag following a bullish impulse off of support. Volume at support on the 22nd was quite strong.

Follow the Volume

2011-09-28T20:39:00.001-05:00

Price broke down from its triangle/flag/whatever. It has since retraced to test the breakdown point and, seemingly, failed today. By Friday we will likely have a decisive momentum move.

A bullish outcome still has a chance, but the advantage isn't favoring that direction

another

2011-09-26T16:55:00.000-05:00

3d entry in POT
Took the 2nd up-arrow as the entry at the 50% Fib. retracement didn't fill. Left with the feeling of chasing price is never fun, but my stop was only 20-cents. Exits taken at exactly the 50% & 100% projections.

close enough

2011-09-26T16:29:00.002-05:00

To a 3d long entry today in AAPL
Entry was at the 50% retrace of the initial impulse (second up arrow). First exit was taken at the Open price (don't know why I didn't just let it play out). Second exit at end of day as it tagged the 100% projection.