3 minute chart scalps looking at only high probability set ups from this past week.
High probability set ups include:
1. 26(yellow) and 50(blue) EMA above the 200(purple) MA and the Ichimoku cloud 2. Ichimoku cloud above the 200 MA 3. 9(red) EMA above the VWAP(light blue/thick) 4. MACD above the zero line
Once the above conditions are met, the closer to the VWAP and the 26 and 50 EMA the better the entry. Stop loss would go below the previous swing low prior to the buy trigger.
Target will be based on my cheat sheet at on the intro page based on price of the ETF
The more of the above conditions you have the higher probability the trade will be a winner.
The green circles on the chart indicate when all the above conditions are met, the green arrow is the best buy trigger, the red line is the stop loss and the green line is the target based on my cheat sheet.
Note: LABU/LABD are very volatile right at the opening bell
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