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1 hour ago, dmedin said:

Looks like the hourly time frame is no good for me, as I just don't have the patience for it.

And I've spent so much time looking at charts that I have very few skills that would make me employable elsewhere.

It's five minutes or bust - noose time :D 

thought you had a tested system. if not enough trades test it on a greater number of markets and possibly time frames.

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That is the 50% retrace for  the Dow and S&P. 

It's the opposite, I don't think I'm cut out for day trading.  I still would have been better off keeping a position open from Christmas, even now.  I zoomed out to the day chart and the overall pictu

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59 minutes ago, Caseynotes said:

thought you had a tested system. if not enough trades test it on a greater number of markets and possibly time frames.


I do Tom, I just needed to get a grip on myself this morning.

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17 hours ago, dmedin said:

Nope!  Another fakeout.  Had about a dozen of them in a row this week :)


And your system survives that kind of failure rate, astonishing, it must be a really good system 👀

Key points of the day on M5;

A/ bulls attempt to push higher but bears counter with a reversal bar and take control.

B/ bulls attempt to get back above the pivot, bears say no, doji ---> red bar, key entry point.

C/ bears stopped at S2, try to break downward but get hauled straight back up by the bulls, bulls take control and push price back up to S1.

D/ bears try to re-take control at S1, legitimate entry point for a short but the very strong bull bar at E should have had you running for cover.

(stay away from the market open whipsaw 8 am and pack up at 4 pm as the only guys left are just closing out their day trades for market close at 4:30).


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4 hours ago, Caseynotes said:

And your system survives that kind of failure rate, astonishing, it must be a really good system 👀

Noooo :D 

I should try your 5 min system on the DEMO to keep me occupied instead 🤓

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3 minutes ago, dmedin said:

Tom, what is your directional bias apropos of the charts 🤔

intraday always look to the Daily Pivot, if above expect continuation up and if below then down but Dow and S&P are on opp sides at the mo, would expect Dow to follow S&P and Dax to follow Dow.



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