As always, idk what I'm doing. Just want to save this idea for the future. Let's see how it plays out. Let me know if you think I am way off base, or don't know anything. RSI headed south while price still moving up slowly. Will the MMs fill that gap next week only to push it up again? Looks like MMs averaged down in price earlier this week. May happen again...
So took a quick scalp on SPY today. Here is what I saw. Feels good to get one right. I by no means know what doing. If I'm way off or my thinking is sound, especially as related to Market Maker Method, I love to hear your thoughts on my analysis. Teach me My mindset has been that the MMs still are bullish on the market, (COT report) while most retail traders are...
Maybe a bit late but a 9.9 pip difference from closing bar below momentum. Perhaps we can see a dip back below 1.2100? Let's play!
Price retraced above equilibrium (50%) of the impulse swing down perhaps we'll get some further downside. Would like to see 117.850 at least. Let's play
I'm willing to take the risk being the lows have yet to be swept out. Perhaps the buying was a run on buy stops for a push lower. Let's play!
Here is a detailed explanation of the strategy. I did take this trade. Let's play!
Don't like to trade Friday's if the week has been positive. Roger that!