A Thread: My Favorite 5-Minute Trading Setup That Just Works.
Let’s talk edge. This is a AND avoid FOMO Chasing)5-min scalping strategy I’ve used for years to catch high-probability moves. (AND avoid FOMO chasing)
All I this strategy needs is two moving averages:
20 EMA and the 50 EMA
Start by identifying the trend. If both the 20 EMA and 50 EMA are sloping up, we’re in a bullish environment. You're only looking to buy dips (not shorting).
Setup Logic: Price pulls into the 20 or 50 EMA with VWAP support nearby Wait for a 5-minute engulfing candle or hammer - doesn't matter if you trade $TSLA $SPY or $AAPL or any US stock or #crypto
On the flip side if the moving averages are trending lower (20 &50) we only take short trades (dont go long)
We take PROFITS when the price has moved far AWAY from the 20...its stretched and time to book gains and reload when price comes back to the 20 as long as noth ma's are trending lower and price is below
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@threadreaderapp unroll
The S&P 500 has reached a pivotal moment, clearly reflected in recent price action across multiple timeframes. Let's break down key levels, indicators, and targets for $SPY.
Daily Chart ($SPY at 597.44): Price action reveals an emerging bearish pattern. Notably, a clear head and shoulders pattern on the 60-minute chart signals potential downside.
Key Level to Watch (Neckline at 596): A decisive close below this neckline triggers a short-term bearish signal. Immediate downside targets: • ~591 (38.2% Fibonacci retracement) • 588-586 (50% retracement & 200-period hourly MA)