If I was a market maker I would see the high and low points, and bounce price back and forth until the end of time, taking everyone's money, and inhaling it's sweet aroma until becoming a decaying corpse. I believe the paper would outlast the corpse. Good thing I'm not a market maker.
This is currently a 25 point range, but with extreme bullish sentiment entering, you have to imagine the bulls are going to pile in and push the ceiling up.
For this reason, I look below price at areas where buyers came out to show their support. At these points I would have my orders/alerts placed to capture any moments of bullish uncertainty. By bullish uncertainty, I am referring to times when a bull market turns downward and is sharply pointed back up. In contrast to a healthy pullback, in bullish uncertainty, I am only looking for price to wick down before remembering that it is, in fact, bullish.
It's a nice story, but does it actually happen in nature? I have captured enough of these to confuse myself with the chosen one, but I don't think it's a totally reliable strategy.
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Again. This is why I prefer minute charts. Too many possible outcomes. In a world where simple is better, why not just love the minute charts? That grey box looks like a nice area to play some back-and-forth if you're into that.
This is currently a 25 point range, but with extreme bullish sentiment entering, you have to imagine the bulls are going to pile in and push the ceiling up.
For this reason, I look below price at areas where buyers came out to show their support. At these points I would have my orders/alerts placed to capture any moments of bullish uncertainty. By bullish uncertainty, I am referring to times when a bull market turns downward and is sharply pointed back up. In contrast to a healthy pullback, in bullish uncertainty, I am only looking for price to wick down before remembering that it is, in fact, bullish.
It's a nice story, but does it actually happen in nature? I have captured enough of these to confuse myself with the chosen one, but I don't think it's a totally reliable strategy.
----
Again. This is why I prefer minute charts. Too many possible outcomes. In a world where simple is better, why not just love the minute charts? That grey box looks like a nice area to play some back-and-forth if you're into that.