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I loved that answer! Sometimes I wonder if I can just start from exactly where I tune in for the day! Okay, back to the business. So, how far back do you go to decide what trend you're entering? Or what trend you're seeing a change in? I'm getting that most daytraders look at the...

Do you know what they set both lines to? What the moving periods are?

Thank you, NihabaAshi. That's what I meant. Trackstar, what I was saying was that I know what swing high or low looks like, but you really do need a point of reference to determine if it's the first, second, or third swing high. For example, one of the ET posters that posts very clear...

Thanks, NoDoji. Much appreciated. What setting do you find most useful on your stochastic indicator?

How do you define a swing high or swing low?

Nodoji, What are the longer time frames you use to determine S/R when daytrading? For example, do you consider the longest time frame like the bear market we're in? Or do you tend to stick to the last few days, then weekly, monthly and yearly S/R levels? Also, do you trade of chart...

Understood. But. IMHO, you need to define the time frame to determine whether what you're seeing is truly a HH (or LL.) In other words, you need a point of reference. Like the other poster says, for his final reference (after determining bigger trend,) he uses the opening range to...

1) So you use the general trend as you interpret it based on the last few days, weeks, months or years? (Without charting or indicators.) 2) Do you use the first half hour of the day to determine the Opening Range or longer? BTW, thanks for your concise and understandable reply.

Agreed. But over what time frames?

Okay, you got me. These boards are full of traders who trade using charts. What method do you recommend instead?

I started this thread to formalize the various ways daytraders determine the trend. Many of the methods described in ET start with determining the trend. Many also correctly advise to start with a higher time frame and trade within a lower timeframe. 1) So what are the highest time...

How do you interpret the varying range of volume bars? The longer bars show you that the price fluctuated across a broader price range and the shorter bars, like a doji, so you that price consolidated around a value. So like a doji, do you see that these shorter volume bars mean there might...

Zodiac4u, I might be starting to agree with this. That PA is reading the DOM. Reading charts would be reading charts or TA. Now, examining this more closely, on the DOM, the number of contracts or shares traded at certain prices, establishes the extremes of each move. That's how...

I am following that advice and am already approaching the magic number. Remember, I have traded, just not full time. Again, I'm not looking for a shortcut, just trying to learn from those who know more than I. Plus, I like to ask questions of those who might the see the market the way I'm...

Okay, I beginning to get your style... I think! 1) You look at oscillations between two points? S and R? Or two other points? Trend lines? 2) Then you trade as the price bounces off these extremes and you determine entries an exits by using a smaller time frame within a larger one...

Slapshot, Agreed that it's hard to verbalize, but can I ask you to try. I have been using a SIM and trading and I kind of see what you're talking about, so any more clues you can add would be greatly appreciated. To use your sports analogy. Coaches exist because some things improved upon...

ProfLogic, Two questions: 1) So speed does play into your decision? That is, you do pay attention to how long it takes those volume bars to build? 2) What do you mean when you says you build your charts "fractally" in increments of seven?

Proflogic, In terms of using volume bars, how do you factor in the time they take to print. For example, when a 10K bar prints on the emini quickly, does it change the way you interpret PA? Is this what others call velocity or momentum -- The action speeding up? So do volume bars...

Slapshot, Excellent post. Now that's I debate I want to have/see. I've often gravitated to just making decisions off the DOM as that's what seems to be meant by true tape reading. I can also see why this might be the real meaning of PA. It seems like traders in the early part of the...

The OP brought up an interesting question. Others posted interesting thoughts and I brought up some questions and thoughts that I was looking forward to comments on. I get the notice that the thread has been updated and I check it out to see that this thread has been hijacked. Can the...