Day trading, significant levels, & timeframe

[traderjoe200]

FNGR is an outlier.
Same as HKD

Went into HKD at 50 but sold way too early.
I missed FNGR. Looking for the next one ..

Are you mainly shorting ?
Or longing Momentum ?

Found it tough to chase right from the open.
Sometimes there is some follow through
But 95% of the time the stock stall.
Or worse … reverses.

Looking for a setup on MANU lol

I remember SYSX went up 800% intraday
OTC stock trading 26M dollar that day.
April 14th 2022

Some nice plays there and there,
But some nasty ones also.

MANU today. great momentum follow through today

 

[alistera]

Regarding intraday trading.
I noticed when looking for stocks to trade I try to get them when they are approaching or departing a significant level. Sometimes every stock seems miles away from significant levels at least on the daily timeframe.
Is anyone able to tell me whether or not it's also worth looking at lower timeframes like 4 hours or 1 hour timeframes 4 significant levels when day trading?

Thanks

Forex has higher volume than futures, and futures has higher volume than stocks, for the most part, 4hr and 1hr are not intraday, sure you can trade them but you will be playing with extreme low probability, the lower the timeframe the higher the probably for a short hold duration, most use 5mn and 15mn but the platform have access to they found it like dunking for apples, yes this is how most people trade.

In Forex they found 1sc and 10sc (seconds) timeframes the most optimal (except the workload is beyond intense requiring specific lifestyle choices which very few could do, let alone sustain), for Stocks it is 1mn timeframe with an higher timeframe trend for direction because that is your friend.

These provide higher probability outcomes which is proportionate to the amount of effort you put in and the quality of the fintech to offload analysis for decision making, as most put in little effort (lack of experience so no realtime pattern analysis) and have beyond useless fintech (it costs too much for realtime analysis) they have to push up the timeframes which lowers probability giving them a chance to unravel the mystery, by which time the markets have already moved on!

Have been trading sub-minute today because the markets have decided to hibernate, well not exactly they are just using attrition for anyone trading minute up to weekly charts, inducing losses at those levels, unless you have low expectations which most do, because waiting is an expensive business.

 

[futrstrdr]

I use volume bars for ES, CL, and GC. They work very well with the methodology that I use