Thursday, April 25, 2019

15 Minute SPY and QQQ Zone Candle Fades

One of my favorite trades is the SPY and QQQ intraday setups at Suppy and Demand zones (buy/sell zones) with confirmation from the the 15 minute candle. Entry is the  Low/High of the candle, stop at the low  and hold until the end of day.  This is the only setup I take against a trend - meaning the stock has traded away from its 15 minute 20ema into Support/Resistance and a counter candle setups up. (will not fade on a breakout day)


SPY Short Fade: SPY traded into prior resistance/sell zone - red counter candle formed, enter at the low of the candle and sell end of day. Sell half at the rising 20ema.

QQQ Short Fade: QQQ traded into a prior support area/buy zone that turned into resistance on the break down with  20ema support. Red counter candle formed, enter at the low of the candle and sell end of day.

SPY Long pullback/fade: SPY is trending and sold off into gap fill and 20ema. A counter candle bounced off the area. Enter at the high of the candle and sell end of day.

SPY Short Fade: SPY traded into a prior sell zone and extended far from the 20ema.. Place .50 stop at high of day and enter low of the red counter candle. Exit at 2-1 ratio (1.00 gain) or end of day. Sell half at the rising 20ema.


SPY Long pullback/fade: 

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Disclaimer

I DO NOT MAKE RECOMMENDATIONS TO BUY OR SELL SECURITIES - I JUST POST TRADES I MAKE OR FIT THE RULES OF MY TRADING PLAN ON A DAILY BASIS. DO YOUR OWN DUE DILIGENCE - YOU ARE RESPONSIBLE FOR YOUR TRADES, INVESTMENTS, AND DECISIONS! ALL CHARTS COURTESY OF TRADESTATION, SCHWAb & TD AMERITRADE