Quote from Davelandry99:
Although I'm not a big fan of daytrading,
I have clients that like using Bowties intra-day.
The more successful ones switch timeframes and somehow now when to switch from "scalp" to "trend" mode by varying their time frames (e.g. 1 min, 5 min, 15 min. charts..and even tick charts in choppy markets).
I think their success is knowing the market (and not the pattern in and of itself) since index futures can be very choppy.
You simply look "tight" crossings of the 10sma/20ema/30ema and then a pullback.
Intra-day patterns work best when combined with bigger picture patterns...(higher time frames)......
Attached is an example on the cash S&P.
Notice the market traded sideways/made marginal new highs then rolled over.
Dave