DislikedI think there's nothing more annoying that a pennant on 1 minute chartIgnored
There was this guy smackin himself in the head with a hammer. Another guy comes up to him and says "Why are you doing that?" The hammer guy looks at him and says "Cuz it feels so good when I stop..."
Seriously tho, when the momentum is this low, I won't scalp the 1m or anything else for that matter. There's just no way for me to justify it. Less than 5 pips increment (minimum) on the vertical scale is no trades on any TF for me
The 3m however is currently giving me a'rd a 40 pip channel with nicely defined BB hits and a minimum 5 pip increment... I would use the 1m for entry or exit only under these conditions. Not the best, but it is sort of tradeable if I was in the mood, which I'm not. Too much watching for too little.
The 20m is currently giving a nice setup with 20 pip increments over a 140 pip range as defined by the BB's, but alas, too late in the day to expect those moves, as Acumen commented on earlier. Not saying they won't or can't happen, but the % goes away that they will... and the power will likely fall off instead of increasing except for the end of day fakeouts from settling books and all.
So time for me to go away instead. See everyone at asia.