Swings and scalps

Another day, another scalp. Still time to get in for the down move. The problem is this green support line. It may not want to reach down that far before continuing up the trend changing new channel. However if it breaches this support, we have a long ways down before there is any more.

Set some entry orders in case of a spike. I don't like to do it this way unless I am around watching the chart because I haven't automated trailing stops yet.

261.8 has confluence with previous range resistance. It is on a steep incline though it will likely stall and reverse and form little butterfly effect fibs everywhere on it's way. I have a long on break of high with the demo account.

Stopped above previous high break. Perhaps an option is better in this case. I like the leverage on this account. Shorting the SP500 seems risky, most advise to go long only and buy dips. It does look like it is ready for a retrace though. Lost $15.

Let's see if BTC/USD bounces or breaks the 9100 support. Stop is at breakeven.

Order barely failed to trigger, like a pip off or something. Watching for more of a pullback. Too far below the 38.2.

It it a double top or continuation of the spike? If it does reverse I will measure the move and get in at the fib levels.

Auto entries on the demo. My real account has smaller positions than MT5 offers and is set to enter at 161.8

Stop to breakeven looking to short a test of the sma.

The second (blue) spiral seems to be the most respected, although the red was at first.

Waiting for a chance to move stop to breakeven. Demo only. Too aggressive for my current budget on the real account.

Price bouncing off the smaller spiral also hitting the 1 min sma 50. Tight stop $0.35 risk.

Not surprising, it bounced a little right in between the 161.8 larger spiral and the 261.8 fib, so the sma 50 was next to useless, except it will be watched to see if it stays above or below this level.

Seeing it in an actual spiral shows how time may factor in. The time passing is arbitrary though, so I'm not sure how useful it is. However, it does seem to be reacting to the time levels, not just the regular linear measured levels. 2 dimensionsal instead of 1d.

Stopped out now I have an entry set at previous resistance risk $0.99 at the 23.6.

How large of a retrace of the sma 50 on the daily is the question. Going to watch and measure. Looking for shorts.

Triangle and downward sma, sell entry.

Lower high? Possibly short this upper support and ride the retrace.

I may add long at the sma 50. Waiting for it to get below that point before I am really comfortable with a short, although getting in at the top with a tight stop is always best if possible.

It hasn't quite spiraled to the 161.8 yet. Long here and 261.8

Sell at the sma 50 on the 15 min risk $0.89

Set and forget on the 161.8 worked!

Quite the spike I wonder why this happened. I wasn't watching the news. I'll have to follow up.

Technically, it hit the green support and bounced which was also confluence of 161.8 on a fib, shot up to another fib level, which also is former resistance, before averaging to the range I have been stuck in all week.

So, does this mean down or up? On the long term it looks down, I think it is headed to the red fib areas if it stays below the 38.3 gold fib on the monthly. Sell on retraces unless this is breached, that of course would be a long signal, reverse positions if that happens.

This shows that even in news volatility (or whatever it was) fib levels still get honored.

The reason it has been range bound for so long is because the longer time frame fib (gold color). I'm studying slower momentum. How long is a pause when it reaches a level. Sometimes levels are hit quick, say for a few seconds, but as previous posts have shown, this often is followed by a more thorough "sit" on the level, or range in other words.