My thinking is that it may be a good idea to use 10 pts as a profit target intraday. This would let me out of the 20 pt days, but then again maybe it wouldn't if we had a bounce and I reentered.
Another 2 consecutive WRBs on reversal, both tradable using 2 point stops. I think this pretty much proves the point of reliability of using small stops in relatively short time frames, when a high probaility system is used.
If anybody wants to hear a prediction from a guy having 3 beer at a break from mountainbiking at the countryside.... possible downreversal after lunch, lately ~1400-1430, thursday often good for afternoon reversal Trin 2. day in extrem bull, Comp = -0.49%. market is not lead by techs, will not frontrun, wait for downtrend, may be congestion till end too..but low prob for further up
Yep, here is a reversal signal via Bullish Dark Hammer Pattern this time @ 11:18, oil futures are on a decline and we have a nice formation going on, choppy via trend lines and oil futures prices. I would stay in the trade now until EOD, should be good stuff after lunch.
The daily pivots are great during chop zone times, as the price level approaches one of the levels, the acceleration of block trades in the T&S, partly due to automated limits, plays a huge part in further price advancement/decline, another solid scalping opportunity.