How do you know if those lines have any merit if you didn't back-test them or have statistics on their validity?
You're basically discovering their validity in real time risking real money.
If you want the larger swings - I fear the DOM might be a distraction, to be honest. I'm seriously questioning the validity of DOM in the first place on a market as ES. But that's a controversial issue and others will probably disagree.
Support/resistance may or may not be a distraction, too. When does it hold? When does it break? When is it a fake breakout (very common on ES).
It's not easy, but I think back-testing will give you more answers. Of course, the difference between back-testing and a live chart is that a live chart is moving. On a dead chart, it's always easy to see that support/resistance held after the fact.
Just my 2 cents of course and I certainly do not claim to hold all the answers. I still struggle with consistency myself.
I believe that patterns do evolve anyway.
So I better be quick at discovering and exploiting patterns.
They may not have statistical significance but I'll study them anyway.
I am just learning through experience, observation & repetition ...
That's a weak spot. Maybe I should learn real backtesting.
It's still a good tool to have as a trader.
I am still going to daytrade "swing".
By DOM I mean prints at the bid ask spread.
Just trying to gather little signals for entry confirmation.
Not sure the value added is worth the hassle but I am still trying to get a feel.
... I said "get a feel" ...
Asking the right question without clear cut answers,
Is definitely better than having answers to the wrong questions.
Speculation is inherently uncertain.
We still have to accept this.
But if we can get a little edge, consistently, and compounding it,
Then we're doing it right. Too precise a plan is a fragile plan I believe.
Better get the principles right, the strategy right and adapt the tactics.
Thank you very much for your feedbacks.
