Basically you ain't wrong, BUT as I consider myself an experienced momentum trader I almost always enter off 1 min chart, so on most occasions I am in before there is momentum acceleration and I scale out into strength of a move, as trigger is taken off a 1 min chart with its miniature...
Long 1317 off 1
-1.75
2 &3 prepping for upside ImO
Long 1315
C'MON!!!
3 min ready for buyers to stet up ImO
Scaled out +1.75
8.40 of course anything may happen, though 1,2,3,5 min charts suggest staying long ImO
Setting up IHS, hold or fold?
TY C!
Avarus, what is your take on 1314-1310 levels for support, TY!
I do see upside potential in 1-4 hour charts' histo, it is climbing/diverging.
25 min to report
I sense more long fills are required at lower levels
My eyes are on 1 min 1.11pm
Fair enough comment. My criteria is to have as little as possible DD, one of the ways to do so is to trade a longer term chart off a much shorter time frame's set-ups, that's basically what I do. I always scale out of trades, on previous 2 occasions here it wasn't worthy to scale out. But...
I don't use volume studies, so I can't help you there mate. All I do is pattern based trading (histo vs price).
If 5 is your chart, then ImO, you ought to monitor all shorter ones to see build up, anticipation is key ImO.