I'd rather write a post for a losing trade(s) then a winner, but ...there hasn't been any lately ..
LVS was one of my favorite short set ups , explained many times in this blog. LVS was my choice over WYNN simply because the spread was much better.
I took more aggressive entry here throwing offers all over 45.00 a whole number , which is major daily resistance after 2 day run from below $40. For a novice I'd suggest to wait for 2 min candle break of the low and stop above it. Scale down 1:1 risk reward and cover rest at first 2 min high break out or at the support 44.00 which is almost 1:3 R:R. Seeing it at 44 is no brainier COVER simply because it is PDC and previous day congestion area acting as strong support.
LVS 2 min fluid candles from the open
I explained in this previous post CLICK HERE how more often then not , the first half hour gives me less choppiness and nice fluid moves on 2 min candles
Later in the day I tend to use 5 min and 15 min charts
This is COF 15 min chart that did not trigger short entry, since the 15 min candle low was not violated
COF 15min no trigger short
COF why bother guessing when can read and act upon price action ?!?
And here is the violation of the first 15 min candle low for nice R;R of 1: 2
COF 15 min
Salute
@DaChopa
Hi Dan.
ReplyDelete1) What about 15m candles around 11am in COF? You didn't watch that area because of bad r/r or something else?
2) Do you even watch 1m chart?
I do watch 1 min at the open sometimes when the volatility is the biggest or when ever it is very strong.
Delete15 min is OK too, specially later in the day