"Counters"... moves against your position/trend... are always a problem. Once a counter starts, you don't know whether it will be short and shallow or be something much larger. The safest way to trade them is to trade out and back in rather than "ride out". The market gives you every opportunity to turn a potentially big winner into a small one.
Your TA is certainly causing you to lose tons of money. Your reward / risk ratio is horrible. You have to revamp the way you trade. Make sure you target the RR ratio better than 3.
Amazing trading, guys! Would like to see you 2 in the ES journal to make some live calls! Would be an eye watering experience!
Please continue to pontificate! Would you have a chart example handy of a a breakout and how it could be played? Edit to say that my levels are much improved but I tend to be whipsawed if I take the other side too quickly.
If its not pushing our luck,could you suggest the top 5 or 6 correlations? By strength or prevalence perhaps?
That's the kind of info I'd charge BIG $$$ for if someone with deep enough pockets thought they might benefit. Besides, I wouldn't want to deprive anyone of the thrill of figuring it out on their own. I've often said that I would advise "where to fish", but I'm not going to bait your hook and cast your line too... you have to do that yourself. (Ask "candles"... he's basically seeing it as I do.) I've illustrated 2 of the most frequent/common... "matched low" and "matched high". Those alone are worth 7-figures to you eventually if you work it.