Midas-daily profit SPY
For past several days, basically price action showed side way, in the middle of Keltner channel--so called, "no man's land", hesitating to go one direction, bulls and bears are fighting. However, we are seeing converging of 8 MA, 16 MA, 24 MA line, more likely price will turn to downside, appears big sell out is coming soon. So short-term day trading is preferable with tight stop loss until we see clear downtrend.
Whenever price is trending up over opening price, net price, then, long only at the bottom of 5 min chart. If price is trending down below opening, net price, then, short only at the peak of 5 min chart with scale in, scale out.
If 1st tier is profited, automatically stop loss comes down to break even. Remaining tiers will be let them run. With such method, consistent profit is possible in any day and every day.
Whenever price is trending up over opening price, net price, then, long only at the bottom of 5 min chart. If price is trending down below opening, net price, then, short only at the peak of 5 min chart with scale in, scale out.
If 1st tier is profited, automatically stop loss comes down to break even. Remaining tiers will be let them run. With such method, consistent profit is possible in any day and every day.
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