I use small pieces of the puzzle for intra-day moves to determine when to jump in or stay out. I used the prior swing low of 12963.25 as my end point. It did break that level. Just my opinion, but I think price will continue down at this point. But, I don't work for CNN, so my assessment could definitely be wrong.
My premarket activity #1 Exercise #2 Meditation/mental trade rehearsal while listening to music #3 Determine levels to look for each day. #4 Win or lose conduct post trade analysis #5 Reading & research on websites and forums to learn from other traders insight like the picture below.
Ironplates responded with: second set up short. seeing that price created a shelf on the top left and sellers took control trigger: the retest of price back to the shelf. sell the breakdown of the retest (via SELL LIMIT ORDER) and stop above the retest high. move stop down to above next confirmed lower low. exit when buyers take control on the massive price move up as the impulse reverses. all other chart drawings can be removed. No other technical indicators or moving averages needed. Wide Range bar on 8.14 at 0:00 https://www.elitetrader.com/et/threads/mentorship.369198/page-6#post-5661701
Sounds good... the vertical grid is just there for figuring out what time the TRIGGER occured versus just the SETUP. The trigger time is the GO / NOGO piece of actionable information where the rubber meets the road. On live trader's chart, those would serve no purpose and not be cluttering up the joint. hey man, Keep on Posting! Put up some charts from your own dealio and call 'em the way you see 'em. They don't have to be up to the minute, these are for informational use and to initiate conversations about the different ways that traders use their charts to inform their decisions to buy or sell to enter a trade. There are no two traders that trade alike, like fingerprints. All different. More the merrier. Artistic traders? Bring your Marked Up Chart and Come on Down! Intuitive traders? Bring your Marked Up Chart and Come on Down! Technical Analysis traders? Bring your Marked Up Chart and Come on Down! Price Action Traders? Get the hell over here!
Trading the T-line - cut to the chase ... Stephen Bigalow https://www.elitetrader.com/et/thre...t-right-here-baby.335635/page-15#post-5162295
MikeRiley REALLY WANTS YOU To KNOW that "Another No wick day. Indication pricewill continual direction." "No wick day. Indication price will continue direction." - https://www.dogpile.com/serp?q=No+wick+day.+Indication+price+will+continue+direction
It is an interesting look on a chart, but since I don't use time-based charts, I have no idea if that is a good indicator of something. My gut says no, it is just a fluky coincidence.