Big picture charts always supersede short term charts. Many day traders think that just because they are short term traders they don't need to look at the big picture charts, but in order to be a better executor of your short term strategy you need to understand the context of the current market environment. Should I be smaller and quicker to cover my trades? Should I hold on to this long or this short because we're breaking out on the higher time frame? All of this matters when you're looking to become a better trader. In today's video I go over the context of the current market environment in the ES1!, MNQ1, RTY! and YM1!. I use a 10 day moving average, Auto Anchored VWAPs, and I use a short term chart (3 minute) to explain why I have been using standard deviation lines on to scalp ES1! futures in this choppy tape.
Anthony, I always love watching your content and hearing your perspectives. I posted on the weakness in Russell 2000 a few days ago, and I agree completely with all your comments on the lack of participation there. I'll post my IWM article below if you have a moment to check it out -- sharing the IWM post only b/c it relates directly to the lack of participation in a major index. Thanks again for your great videos man!