First long and short nearly evened themselves out, trying to get a feel for which way the market wanted to go.
Third trade, long, was the anticipation of the 15m 3/10macd going back to 1a (from 1b).
Fourth trade, short, was anticipating the 2c on 15m 3/10macd but you don't really know how much of a pullback you'll get. The 5m had a tweezer top, an "M" top, overhead supply from the previous day's selling (bearish "trend") AND STILL price would't give up the IB_High (which was a confluence of the o/s_high and o/n_high areas. Took a small loss.
Fifth trade, long, anticipating the 2c-2d criteria setup to play out, I got out for scraps and walked away from the computer. F@(%!
Higher time frame...no pullback, V-bottom so far. Maybe it was a Bull trap if the recent news (Moody's GB downgrade) has any effect
Otherwise, there's this similarity that can play out:
242-days ago something very similar happened in the SPY that happened today.
2 comments:
What is IB high mean?
IB = Initial Balance
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