No problem.. Question for you.. the last hour's behaviour has caused me in the past.. currently sitting on my hands.. How else do you detect it? Not a scalper so it nauseates me..
These have to be THE most profitable setups... So many traders are programmed to trade breakouts.. nothing wrong as long as you get out immediately if not held.. THE trade is the reverse.. However I have NEVER taken them though.. Just watch them go by..
Well I can tell you that I had no idea prior to the choppy Price action that price would be that choppy. But I would add that I don't need to know in advance if it will be choppy or not to make money. Though I might be percieved as a scalper based on my trades, my objective is to make as much profit as I can on each trade. I'm just reacting to price and if my trailing stop gets taken out, then on to the next set up. I usually like to keep my trailing stop tight in the early morning, particularly within the first 1-1.5 hr of market open because markets are volatile during this time as institutional players are changing hands. That's why volume is high in the morning and taper out through out the day. Can't tell you how many times I see 2-5 pts of unrealized profits evaporate because I didn't protect profits. After the morning's session unfolds, and if I get a good sense of which side is the stronger side, I'll get in a trade and loosen the trailing stop a bit. With these kinds of trades, I do not use an intitial stop because I'm willing to let price gyrate a bit before it finds its way. Last trade could've been managed better obviously, but you live and learn.
Another thing, daily and 60 min charts are very bullish and picking up momentum. So shorting was not in the cards for me this morning.