How do you Avoid Chop without missing the break (intraday)?

[schizo]

Should you buy or not?? Or rather should you have bought or not?

 

[schizo]

So the best thing for you to do is discern whether this is a pullback or a sideway chop. Not easy at first, but with practice, you can do it. Yeah, easier said than done.

You could then use trendlines to hone in on your trades. But then again, without first knowing that it's a range, this would not be so easy in real time.

So once you "know" it's a range, it then becomes pretty straight forward. You buy the low and sell the top, until there's a breakout.

 

[SunTrader]

Buy.

 

[schizo]

Buy.

I don't think so buddy.

It's going exactly according to the script (so far). But with only 30 minutes left, anything can happen, so take that into consideration.

I personally think we'll get a selloff into the close. Let's find out.

 

[schizo]

Keep an eye out on that dotted trendline. If that holds, we will likely rally. If that breaks, we're heading south.

 

[schizo]

Will we get one last reversal or will this break down to the south as I think it will?

 

[schizo]

I'll stick with it over arbitrary "touches" if you don't mind.

So you still think this is "arbitrary"??

 

[schizo]

Will we get one last reversal or will this break down to the south as I think it will?

It sure broke below the lower range, but it ain't going anywhere, which means there's no conviction (not surprising since there's less than 5 minutes left).

 

[SunTrader]

So you still think this is "arbitrary"??

Trendline break no. Touchies yes.

 

[schizo]

Trendline break no. Touchies yes.

I can only shake my head. I placed the last 3 check marks on the above charts well in advance. As you can see, prices pretty much came in line with those marks. There's nothing arbitrary about them.