What's Familiar ?

What's familiar with SKF & MOS ?

The vertical white lines drop down to high-volume surges (compared to that which came before). The horizontal white lines associated with the white vertical lines mark the extreme point of price in that 5-min candle for those volume surges.

The yellow lines highlight reversals corresponding to dojis, near doji's (a tight open-close price range as compared to noticably broader high-low price range), or a close at the high or low of the 5-min candle. There are some false positives which I did not highlight, and that is why one uses stops. I'll leave them to you to find. Often, the reversal is not immediate but occurs within the allowable stop-zone and wouldn't trigger a stop if the doji, near-doji, or close at the extreme of the 5-minute interval were used as an entry signal. Ideally, you'd like to use them as an exit signal... :-). Check out your favorite high-ADR stock/ETF and make your own yellow lines at points of direction change. Once a trader can begin to peg reversals of trend with decent probability, the market is her/his oyster. I hope to be there one day myself!

Good luck to all!

-BCT

October 26th

I got into the market with about 18 minutes remaining and went to SKF because it seemed to have been pretty active today.
I scalped a quick eight cents with two trades after watching it for a few minutes. Four months ago, I would have spent the entire day signed into the markets because I was here at the desk. Now, I sign in when I believe I reasonably can, given my day-job. I value trading more this way and salivate more over the thought of becoming a full-time trader. Not to mention, I am left with the positive feeling that I am not abdicating my primary responsibilities, that I am doing what I must in addition to what I want.