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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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fair go, the failure to break through the blue rectangle was crucial for further downside. Now looking for resistance (sellers to step back in) and the most likely area is just before the red 29400 de

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

Interesting S&P daily shaping up 👇

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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).

image.thumb.png.ce727b038ae397576dc2189969c2d779.png

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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.

image.thumb.png.6425acc7e9d41801b51425b09195356f.png

 

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