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Day-trading

TRADING THE INTRADAY TFs - 8 OPPORTUNITIES IN 1 DAY (MUST READ)I wish I could have posted this with the 5-minute timeframe because patterns appear clearer there, but to my realisation you actually cannot post something less than 15M, which does make sense, although Educational posts should be allowed to do that in my opinion. Anyway the purpose of this post is to basically demonstrate that intraday, or day-trading timeframes are also worth trading, given they fit your trading personality as well as having practiced well enough in order to trade them, because they are a totally different world. For some people these timeframes are way too fast so they rightfully choose not to trade them and instead stick with the higher ones, like the D, W, M etc. What is really frustrating though, is the fact that people who choose not to trade these timeframes, completely dismiss them saying that noone should trade them, because they are completely unreliable and un-tradeable. Now, it is true that these timeframes are harder to trade, and given their fast-paced nature they may seem as unreliable to some people but that does not mean that one cannot or should not trade them. Let's not forget about the fractal nature of the markets, and particularly speaking for Elliott Waves, which happens to be the core of my analysis. As taken from the book "...To say, the Dow Jones Industrial Average is in Minute Wave 'v' of Minor Wave '1' of Intermediate Wave (3) of Primary Wave '5' of Cycle Wave 'I' of Supercycle Wave (V), of the Grand Supercycle, is to identify a specific point along the progression of market history.." (Prechter and Frost, 1978). This chart demonstrates what was quoted above. Even though we are looking at the 15M timeframe something else is occurring in the 5M timeframe, just like something else is occurring in the W timeframe. The point I'm trying to make is the fact that whether it is the 5M, or 15m or even 1M does not constitute them invalid, or wrong or unreliable. Now looking at the chart we can see how valid patterns do form in the lower timeframes as well (again in the 5m it would have been much clearer but they can still be identified on the 15M) and had you been trading on that specific day you would have had 8 different opportunities to jump on a trade, even on a choppy sideways move like this one. Does it mean you should have taken all 8? No but my point is that opportunities do exist day in and day out, and day-trading is very plausible, given you have the right strategy and trading plan for yourself. Even if we take a simple example from other markets, consider Stocks, and particularly Penny Stocks (that are listed on the NYSE, ARCA & NASDAQ). I will not generalise or give this as a fact but judging from what I've seen the trading timeframes with those assets are mainly the 5-minute and 1-minute, which does make sense, because I don't know why one would want to buy and hold a penny stock. Concluding, I am not saying that one should just jump on the lower timeframes after reading this post and start trading them. It will take a lot of practice, and it's always wiser to master the higher timeframes, identify the patterns there and then scale down. But again trading these timeframes is very much possible. P.S I want to give my many thanks to @David_Giraldo, who has opened my eyes and made me realise that these timeframes are indeed tradeable, as I had also dismissed them from what I was hearing other people say. Go have check out his profile as you will learn a lot from him too. Bibliography: Prechter, R. and Frost, A. (1978). Elliott wave principle - A key to market behavior. 11th ed. Gainesville, Georgia USA: New Classics Library, p.28.
Education
by Aqua_Trader
6
XLM Swing Trading Tactic Done this a bit with success swing trading on XVG recently, something different ;) I'm bullish on XLM short term following it's new partnership with IBM, but been a lot of hype on the back of some very positive news for XLM so if you're day trading prepare for this one to fall out of this wedge into a lower channel and potentially fall below 500 sats. This may look a little messy and confusing but everything you see here is justified in one way or another and has been analyzed for hours to set a profitable swing trading plan until the end of October. If this stays in the upper wedge i'd imagine things will slow down on the rise's and drop back towards the trend lines fast, if it falls through xlm will plummet back to the lower trend line within half a day or so but this support should hold for at least another hour or 2 if it's to fall. If it's to stay in the upper wedge it needs to go now. Be wary buying in this wedge, maybe save it for the breakout. Although not really important in swing trading this ones more of a novelty, in the lower wedge on the 4th wave on the rise i'd imagine there will be a lot of upward pressure and continue following the down trend into the end of the wedge, if this doesn't happen I've thinned the lines on a 2nd possible outcome to continue swing trading the lower wedge. I'm very confident it won't fall through the lower up trend so if you see it fall below on a false bear break, grab yourself a bargain and set a tight stop loss, especially if it falls through on the first fall from the upper wedge as it will absolutely fly on the rebound for some very quick profits! Minor resistances at 1050 and 1240 on the breakout and another extremely strong resistance to which it will not pass anytime soon at about 1500. Best of luck! :)
Long
by ArchieBRO
10
GE Short PT 23.50 Supp 26Hello, my name is Brett, and I love technical analysis. Last night, I decided to analyze General Electric ( $GE ). The trend lines are all major, minus the lines that had to be added on the 30 minutes chart. Moving averages were all converging, so honestly, it was visible and apparent that GE was at a pivotal moment. GE Short. Should have posted this last night before the drop, but I did post it in my FB group! :) I bet you the Ichimoku is interesting, too... GE is dead. It'll keep burning... I have a medium-term Price Target of 23.50 based on long-term Technical Analysis with first support at 26 second 26.33, third at 28.36. First time really giving out a price target but hey... I call plays every day.. might as well see and publicly document for complete transparency ... In the Facebook group I posted at 3:00 am: lmao. GE.. Oh.. you did as predicted... Some of you might not see many of my Technical Analysis posts anymore if you aren't in the group I'm adminning BUT last night at 3:00 am I said, "I'm bearish on GE. They could perform a miracle tomorrow and move price action up 5%, and it would still continue burning. Moving averages are bearish. The trend is bearish. And the pattern is bearish." mind you this was posted at 3:00 am, before price action was moving. Expect a hit on the DOW is GE can't be offset by the outbreak down.
NYSE:GEShort
by iambrettjenkins
1
Trend Continuation or Trend Reversal ??? GBPJPYI am curious of what you think about this trade? Be eying it you might see a bullish trend, the market had been going up strong. However, when we examine the technicality of the most recent move, we determine that the market is bearish. We at Pro Trading University entered the market in a shorting position. So, I am curious, would you call this a trend continuation trade or a trend reversal trade? Let me know in the comments below :)
Short
by Ahmed-J
10
Two Cyphers - VIDEO IncludedPlease watch this explanatory video : www.youtube.com In this little educational video you will know my rules for trading the Cypher pattern in a simple and clear way. Then, I will show you two live pending Cyphers on GBPJPY, hourly time frame. Notice that I didn't go over the targets and stops in this video; I will cover them in a later video. I will see how things goes with this second video but I already want to do these type of videos on a daily manner. I will cover a big variety of topics. Covering technical analysis tools, strategies, chart patterns, advanced patterns, harmonics, break outs patterns, money management, trade plan development, backtesting, customization and portfolio and of course, psychology and mindset. If you are interested in knowing the rules of the Bat pattern and check how I made +170 pips live using the Bat pattern then check out this video: www.youtube.com If you want to see more videos, then please subscribe to my channel: www.youtube.com As for this video, here are some useful links that are related to this video's topic: www.youtube.com An article about the Cypher pattern and it's rules: simplychartpatterns.com An article about harmonic and price patterns in general: www.investopedia.com
Short
by Ahmed-J
1