2 min One of the things that might save my short at the moment is the fact that 2 min chart features a very possible triple divergence in MACD/histogram=SPM & what looks like a H&S, hanging by the hair right now
Possibly basing for upside on longer TFs (5/10) does not look good for my short, I have to stick to the plan though, staying short until they take me out
Say Romik-ever think about changing your user name to "DaxMa$ter"? Just a thought. Nice trendline break there BTW.
This thread is a bit erratic as I just wanted to display a real-time example of an SPM using DAX & now this is turning out to be something else, so sticking to the plan I will finish it right here, perhaps I will post what happened to my current position (that is not SPM based). Good luck all! EDIT: I appreciate that comment PMA, I am sempai at best
My advice to anyone struggling with intraday trading would be to study TA patterns, find better ones like SPM & do the following: DO NOT BE AFRAID TO ENTER INTO A POSITION NEAR THE TOP OR NEAR THE BOTTOM AS LONG AS: A) TA PATTERN THAT YOU USE POINTS TO A REVERSAL; B) PRICE IS TRADING BELOW RESISTANCE OR ABOVE SUPPORT; C) TA PATTERNS BACKED BY A MAJOR TREND ARE EXPECTED TO HAVE BETTER FOLLOWTHROUGHS; D) MARK STOPS EITHER ABOVE RESISTANCE OR BELOW SUPPORT