interesting, thank you guys for posting, i hate to do this stupid question but i gotta, what does sma stand for?
Have them see if this makes any difference. this is the area ( in yellow outline) I am talking about, I'm using closing price only, but optimally using actual price vs volume might be bettter. @NCC, never a dumb question with me. We all start somewhere.. SMA = simple moving average
Agree 100% re slope, best is long slow 45degree uptrend or 90degree spikes and reversals. Great topic Mas are too slow for daytrading, or if you're experienced af your eyes know patterns so well, mas unnecessary
Oh, another important aspect of shorting when the slope is neg for those that are math lazy, the stop (@ 50sma or near it) still gives us a higher probability to be profitable since the slope is going down!.
I'm unsure about range other than using Fibs on the 60 min (hrly) and daily @3 month intervals (futes and options exp timing sync.) But I never use those for intraday. However depending on your stomach for risk, my own most profitable stategy intraday has been to NOT predefine the tgt but let the realtime action dictate the closing of the position. Usually candle stick making highs but closing below the breakout high this depends on underlying but for Nq's I'll say 5min works well coupled with 19sma. I usally start scaling out. However often times it will fake the small range breakdown, so on the next breakout you have to get back in... there's also a major saying about the second mouse getting the cheese. More often than not, it's the second move that is the correct move and makes the biggest range. When I have time, I'll scan for the patterns and post. Need to get back to family now.
Curious was that just NQ and ES or other symbols as well? Anyway why so many intraday trades if you are using MA slope on a one hour chart basis?