Indices trading - useful things to consider

This first page can be edited/updated continuously with things I find useful.

I would recommend using a charting software which gives an option for the drawn objects like tradelines, rectangles ect on a given chart to be displayed on all open charts of that same security. Useful for WRB, zones and other studies.

Work in progress:

anatomy of wide rage bars (WRBs)
As the well known Orwellian quotation goes, All animals are equal but some animals are more equal than others.
That can be said looking at the WRBs, their anatomy, location, importance. utility taking into account MTFs approach.

Third Fridays TPL for MT4
Colour coordinated according to the yearly quarters, starting with the Triple Witching Fridays (obviously when one quarter starts the other one ends)


I cannot paste the updated TPL as FF does not support my TPL format anymore.


https://www.forexfactory.com/thread/...hedging?page=7
page 7 post 137, runs only to the end of 2024, I am not able to post the updated TPL which ends in 2033. but the TPL can be edited manually if one whishes to do so
https://www.forexfactory.com/attachm...1?d=1674431945

DOW have had a good run to the upside from the beginning of November, After taking profit above 35k, I am looking to go long from 33k onward, and shall be a adding to the long position if it goes lower into 32/31k territory, I will use DOW DEC23 futures for that approach, DOW cash only for intra day trading

Earning season upon us soon.
DOW, S&P and NASDAQ provided great opportunities to go long this NYSE session.
Gaps have been well filled and pivots, both Daily and Weekly were well in play.

DOW H4 with Weekly Pivots
DOW is at the TOP of H4 Channel, tread carefully as a PB might be in place, especially if tomorrow's opening gaps up within 0.5 -0.7%
H&S on H4 - just in case, don't get badly on the wrong side!!!

More details on the other thread, as I occasionally post some explanations there
https://www.forexfactory.com/thread/...7#post14712237


It will be interesting to see DAX reaction tomorrow!

Closing short on DOW for 300+ points, channel range still in progress
Short position established close to the H yesterday evening with added short at the close.

Example of WRB on DOW M5
All rules apply to WRB
I look for that kind of bar (governing or significant bar, cal it what you want) on short TF M1, M5 M10, M15 M30 for intra day trades
On ProRealTime charting software highlighted zones can be applied to all open charts on different TFs, very helpful
As you can see I use few indicators, I use them on all different TFs displayed at that same time on monitors, at all times while day trading
Stochastic is used with the assistance of MA displayed on the given chart.
So far today DOW has moved over 350 points. 1to1 symmetrical move down very possible
have to close the trade - have to go away from monitors

1 to 1 as it happened

on the left H4 trend continuation (channel)
Chart below is DOW M5 with WRB and continuation of trend of higher TFs like H4, H1 and M30
WRB are important to me and for intra day I look for them on several short TFs in order to identify them without great effort
Once there WRDs have been identified I observe the progress on the TFs I use for intra day trades
Nothing that brings positive results is easy, but something is easier. and failure of my perception are also easier to spot, when the PA goes the other way that I thought it might have gone, so the SL is activated, no problem


m30 important for intra day, (M1 EMA100 with Fib bands)M5/M10/M15 looking for set ups, H4 for wider context

The joys of trading:

- The joy when the loss is small and manageable - joy of learning how not to loose big
- The joy when one breaks even especially after nursing a loosing position - a joy how to manage a trade
- The joy of taking small profit - a joy of learning more about larger profits
- The joy when the PT his hit producing large profits - a joy of knowing one has to work avoiding being cocky and knowing there is much to learn
- The joy of keeping profits and using them wisely - A joy of learning how to be a good steward of what one temporarily posses