
Daytrading with Multiple Confluence Levels
I have been testing my own custom trading view indicator for a few months now and it has been working great. Yesterday I entered a SPY call trade at the 9:36 candle on a 2 minute chart. The confluence was 5 min 200SMA, 1 hour 200 SMA, and PML. I had my stop loss right below the PML and the price respected both the PML and 1 hour 200 SMA. First target was VWAP where I sold 80% of my position, the remaining 20% I let run and took another 10% at first resistance level I have on my chart that my indicator marked, the remaining 10% I got stopped out right at break of previous candle. Great trade!