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Today we set up a trade plan for SPY based on the 5 minute chart. Clay alerted the wolf candle that formed in a bearish river. After looking at past history we find an old level of support that would provide a good place to take profit for a short sided trade. After polling the room to find out everyone’s trade plans, we scroll the chart and see that after a brief consolidation the chart does continue in the overall trend. This is another example of how different trailing stop losses work better for certain trades. There is no one size fits all. It’s more important to pick one and stick with it.