May 8, 2022 Emini S&P 500 Market Analysis with Responsible Day Trading
May 09, 2022Hello and welcome to another edition of MONDAY! Another day, another chance to grow, my friends! Times like these can be a little confusing for some as we watch the market make a decision in if this will be the time that the market starts to make its way back down for a bit. We have an area of support that has been holding pretty strongly below us—and as the day kicks off, it will be interesting to see how the Daily chart MACD develops.
Because we use a Live MACD BB, this makes the MACD indicator one of the only indicators that is moving with the price in real time and one I do not see as “lagging” like any other indicator does. This also means, you get a clearer picture of where the MACD is going to land as the bar develops and as it gets closer to closing of that particular bar.
So, when watching the smaller charts, this makes it very important to watch how many ticks are left on the tick counter so you don’t jump the gun in an entry or exit. The closer it is to close, the more accurate you will see where it should land. Of course, the Daily chart does not have a ticker because only 1 bar will develop each day—but this becomes VERY vital when watching the smaller tick charts to gauge a clear, low risk entry or to hold for the bigger profit potential.
Learning how to properly read the Live MACD indicator, while understanding all the reasons for a slowdown and potential to bounce has allowed us to take opportunities that give us low risk with high reward… and for that, I am so grateful that I was introduced to them at the start of my journey with day trading! It makes things very clear—so long as we allow the market to tell us what it is doing over forcing our opinions on it!
If you’d like to learn a bit more about how I use the MACDs, please feel free to hit me up so you can add that puppy to your arsenal my friends! I love to watch traders grow and I take so much joy in seeing that light turn on J Have a wonderful week traders! Much love!
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