Hello everyone,
This is one very interesting thread. I think I am the only one here that employs 1 min. candle bars to pin point my entry on certain trades. As far as intra day pattens go, there are a few that I have seen that work very well and consistently over and over again when they appear. Using these along with the pivots and tape reading ( that I both learned from you, Soul
, I not only have better entries but now able to hold stops of less that 10 tics, on initial entry, with very few stop outs.
As for trading trendline breakouts, I don't like. However, trendline failures ( that is, failed to break thru ), is a whole other matter. If I had traded yesterday, I might have traded a downward sloping trendline that could have given as much a 30 points of profit, all depending how you manage your stops. You can see this pattern on a minute chart and on the 233 tic chart.
If you want to see a chart, just let me know.
Your thoughts are always welcome.