Hi, long time lurker first time poster here!
My trading pattern is to make quick trades in the morning. I have to do this because:
1) I have to go to work
2) I trade with Oanda, so no Trailing SL
My general strategy is to "zoom out" on perspective to the 10 sec, 30 sec, 1 minute, ... charts and see where the market is generally trending. Then I zoom in to tick or a little higher and try to get in on what looks like a minor support or resistance level.
My question is: am I just deluding myself? Is it really possible that there are such things as "minor support and resistance levels" in the short intraday charts? Or is my mind seeing patterns where none exists?
Followup question: what types of technical approaches, in your experience, seem to work best in tick to 30 second charts?
Thanks so much in advance for helping out a newb!!
My trading pattern is to make quick trades in the morning. I have to do this because:
1) I have to go to work
2) I trade with Oanda, so no Trailing SL
My general strategy is to "zoom out" on perspective to the 10 sec, 30 sec, 1 minute, ... charts and see where the market is generally trending. Then I zoom in to tick or a little higher and try to get in on what looks like a minor support or resistance level.
My question is: am I just deluding myself? Is it really possible that there are such things as "minor support and resistance levels" in the short intraday charts? Or is my mind seeing patterns where none exists?
Followup question: what types of technical approaches, in your experience, seem to work best in tick to 30 second charts?
Thanks so much in advance for helping out a newb!!