SPY gapped down big but rallied immediately. It then formed a beautiful bull flag with support from the daily pivot. Beautiful price and volume contraction when the flag was formed. All the MA's converged foreshadowing a nice expansion. Price broke out of the pattern on volume. I entered based on 5 min. chart after the breakout bar closed strong. Price reached 100% extension of the pattern. I sold half of my position on the way to book some profit. Exited remaining a little before $100.
ICE rallied with the indexes forming a WRB. The next bar met resistance at PDH and the flat 5 DMA. Wait for the price to consolidate under the 5 DMA before taking any position. It then formed cup and handle pattern. Buy limit order entry was above PDH. Exited when price met resistance from R1.
