Still a little worried about this one. Didn't stick to my rules and kind of jumped into it without proper DD.
Haven't traded BAC in awhile. Pulled up the 5 min chart and saw that there was a gap to be filled and the price had started to move in that direction. Jumped in early; should have waited for more of a comfirmation that it's going to fill the gap. I want...
On the hr I saw the gap, and the rejection of it from last week.
5 min showed me a spike in volume so I took a trade.
First target it is $12.10, but been practicing holding on to winners so we will see. Put will we watching SPY. Don't trust this market.
Took a call debit spread today in CSCO. Showed up one one of my TOS scanners this morning. This is what I saw:
Daily: Has been trending up, higher highs, lower lows. I also noticed the fractal formed on the 20th. My entry was below it but was looking for that cross.
1HR: More fractals formed along the $45.80 area. Also on the 26th and 27th there was a nice...
As always please let me know why my idea is garbage.
Seems like most people are thinking SHORT for the market. And while I would believe that they are right I wanted to give an alternative idea.
So news is bad, yet we still haven't seen the drop everyone is expecting. Why is that?! The dip last week was bought and the Market Makers seem like they aren't ready...
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...
Just an idea I wanted to save. The retail trader is thinking "short" but FOMO is setting in for them. MMs are pulling people into the market. At what point have the MMs accumulated enough that they can start selling? COT report looks like they are still long. Im short on the market but don't think MMs are just yet.