I touched on this strategy yesterday a bit and it holds true as being pretty easy of a concept to grasp and has very basic rules to follow to enter a trade.
1) You can see on the 15 min chart of SPX below we went from Higher High's - in green - to Lower High's and Lower Low's - in red
2) When the trend changes, you only trade with the trend, so you would be looking for a put entry
3) Now you are looking for a Double Top move on the 5 minute chart in the light blue shaded area
Why are we looking for that pattern? Why is it that zone, well when you look at the chart less cluttered, you can see the two previous swing low's marked with a red dotted line @ 4305.09 and 4290.08.
Looking at the previous swing lows is because we are in a downtrend.
When you move down to the 5 minute chart, you are looking at this zone in light blue, and looking for that double top to do something like this going into tomorrow:
On the first red candle below that 4290.08, you would enter puts. Easy peasy.
Stay sexy degens.
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