tuesday trading

In the waffle yesterday I mentioned a particular trade setup that I was calling the "WaitForIT"

The thing I particularly like about this setup is I "Feel" I can put in a low risk stop.
Also of great importance to me is that the entry has an actual "Confirmation" or final signal that I can tell myself "That's it, that's the signal get on it" rather than trying to chase price waiting for it to turn.

From the Waffle:

Ten Minutes
TenMinutesXJOFutures



Trying to do too much predictive stuff on this time span and lower after a weekend is fraught with foolishness, however I just wanted to point out a nice setup which I have been using with some success recently.

The setup is as follows:
Low on price (1) followed by a lower low (2) with a higher low on the macd moving averages (2). Price then pierces the 21 MA, closes above and retests then takes off (around the red arrow area). NICE!

Now I did not "Play" the following however I did flag it on my chart and from this morning:



This time the current hourly chart of SPX500 (overnight action, their daytime).

Again same setup:
Lower low on price at (2) while a higher low occurs on the MACD averages at (2)
Price pierces the 21MA at the arrow.
Closes above it, retests and then takes off.
NICE!

Of interest:

This is the Entry signal for a "whooshka". Something I have been searching for for almost a year and a half now and strangely enough going back over my notes of a year ago when I first started documenting this pattern... I bloody well wrote the signal, close enough but without the MACD mav's confirmation!!! farout what a doofus.

So there is a bit of research behind this and after at least a year, they are still occurring and not broken yet.

Safe Trading Peeps.

Oh Yeah... stop goes at the lowest or highest point prior to the signal going off (highlighted by Arrow on charts) .

;)