daytrading price targets

Discussion in 'Technical Analysis' started by sidbunch, May 14, 2022.

  1. I don't suppose I usually have any definite conclusions drawn about any one thing. I just take many blurry and some clear clues and they add up to something more clear. I often have a reasonably good idea the prior day of what the close will be, and I refine it or reinforce it throughout the current day. I will often have a really good idea about the close by about 12-1pm eastern.
    Last edited: May 15, 2022
    #41     May 15, 2022
  2. deaddog


    Want to give us a demo next week? You could call the close about noon eastern and we could all take advantage of your generosity.
    #42     May 15, 2022
    murray t turtle likes this.

  3. The only "definites" that I assume are within seconds of an actual trade, and that's only because a real-world decision must be made. Automation is out of the question currently. The potential current days close is just one clue I use alongside MANY others to predict the rest of the chart. They all work together accumulatively as confluence.

    Besides, I myself was asking the other dude for tips on predicting the close of the day.
    #43     May 15, 2022
  4. SunTrader


    Good luck with that.
    #44     May 15, 2022
    KCalhoun likes this.
  5. Handle123


    Percentages from close and previous Friday, last half hour if market heavily down, shorts will be looking to get out, on Fridays - those who swing will be looking to get out. Options - last 20 minutes, traders looking to hedge. I fade every trend, get in before confirmations and exiting/reversing at confirmations. Much of my work has been discovery of what not given in books and yet much of entries is based on retail or I should say get in before and feed them their enties. I have spent huge time in wave lengths of every commodity. Don't want to enter late. Have spent huge time when not to take trades so studying ends of trend all me to hedge open profits.

    @SunTrader, I been labeled by those I respect, Have won real money trading contests in 90's, I could have gone much more public in life, but having Asperger's/Autistic, I don't care for social interaction, am more of a loner. Perhaps lack of emotions for most part has allowed me to think I'm different ways, also worked for our government breaking codes, so they said I was expert level for discovering what was missing. Am also good in Math. Trading for me is not to be admired but make ton of money to later donate to favorite charities. Can't take it with us when we die.

    And I do wish you much profits.
    #45     May 16, 2022
  6. SunTrader


    @Handle123 hiding behind an illness while bragging is not an admirable trait. Just sayin'. Wish you the best as well.
    #46     May 16, 2022
  7. Georpe


    To the OP, I only trade intraday and set targets based on the type of day. My decision-making is based on the first 15min of PA until proven wrong.

    Range/Trending range day: I focus on 1:1 trades in the first third of the day. OHLC & pivot tests for range targets later in the day. Tests of the prior range/range extreme for trending range targets. Keep track of the open if you're still in the market the last hour of the day on a range day...if price isn't far it's likely to be tested.

    Trend day: Scalp part and swing the rest. Swing target(s) based on PA measured moves or 2-3x risk.
    #47     May 16, 2022
    sidbunch and speedo like this.
  8. MACD


    #48     May 16, 2022
    sidbunch likes this.
  9. sidbunch


    for example, a good trader told me 4k ES was the target today so I shorted the open with 1 emini contract

    No idea how he knew we'd go down or why that was the target. Why not bounce/go up at the open and take out overnight highs as a 'target' for example?

    Last edited: May 18, 2022
    #49     May 18, 2022
  10. SunTrader


    4k good as any other number. ES winked at it and kept ongoing because ... the trend, the trend.
    #50     May 18, 2022