Perfect ABCD setup going into cash open
There was a perfect setup going into the cash open on S&P 500 this morning with an excellent RRR. Once the price on the CD wave breaks the AB high, I checked my Magic Bars for yellow indicating a strong move and entered my first position. As long as MACD momentum was positive and RSI was above 50, the price vector was in my favor. So when the price dipped back to the break I entered my second position. Yellow bars on the Magic Bars provided confidence in the trade.
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