identifying tops intraday

I find that greater the time span - greater the reliability, but candle patterns along with other indicators on a 5 min chart can be quite useful.

Regards,
 
Quote from radolym:

What is the cycle ID and timing methods?
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Every active market has an order composed of cycles. So you have to learn how to IDentify cycles. Timing methods predict when the cycles are completed.
 
This is very true, but I've yet to be disciplined enough to go back through the data in an organized fashion.



Quote from steve46:

The "best" indicator is a thorough study of historical intrady charts.

For your target market, you take several years of intraday data and mark the daily high and low. Enter the data to Excel and do your analysis.

As you do this, you MAY find something that will tell you how to anticipate a daily high and/or low

If you want to use a traditional indicator, you may want to characterize the market by its average true range. To do this divide the day into parts and (again) look to see what your target market has done over an extended time frame.

If for instance by mid-day your market has already moved to its full average range, there is a chance that it is done for the day.

Good luck.
Steve
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Quote from radolym:

Based on your experience, what is the best pattern, indicator, etc. to identify tops on 5 min chart intraday?

I like moving ave. crossovers but my exits usually far from the top.

What did you guys find that works good?
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Personally I like double tops and head and shoulders tops. The time frame changes depening on what you are watching but software takes care of that automatically
http://www.trade-ideas.com/Help.html#GDTOP
 
<i>So what if the odds are against you... the reward:risk ratio is with you...
If played well, expectancy can be high...
Read Trader Vic's stuff...</i>

Very well said. Tops and bottoms are really not all that hard when in the context of multiple time frames and entries using Vic 2b or 123 reversal points in the smaller time frames. Both afford very nice r/r ratios with the tight stops they provide.

Oz
 
Quote from mschey:

The best way to identify a top or bottom in any market is usually when I cover! :)
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Mschey, don't feel like the Lone Ranger. I covered on DELL today around 1430 with a whopping 6 cent profit. Not exactly the optimal exit! ;-) Oh well.....
 
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