Trading on less than 15 min - two examples 14 min.

Trading on 15 min or more is a guideline and not a rule. If the circumstances warrant it then I go for it. Shortening the time setting does leaves me open to market noise triggering a trade. However, if the RSI and Price/Bollinger criteria are met and the reward:risk ratio looks good, then so be it.

I'll happily shift to 14min, maybe 13 min if there is a potential shape showing on slightly longer timeframes but personally I will not go in on 12 min., other users go as low as 10 min, maybe even lower!

This example shows the use of a 14 min. one with supporting evidence.



Tight sharp M, good high RSI and excellent Price action/Bollinger.
Pt 2 was 62.4, so entry was at 61.4 or Price equiv around 4439.
The top of the M was 4449, just 10 above the entry!
The middle Bollinger line was well away compared to that, so reward:risk is fine.

I used the 14 min W to phase out the Shorts I had running - my dream of support levels collapsing did not materialise.

This time the entry is from 1 above the Pt2 on RSI, Price equiv was around 4403, with 4406 confirming the formation of the shape on Price.

I wouldn't have used it to enter a trade because the risk was much bigger than in the original and the Bollinger middle was closer - reward:risk didn't measure up.

There is a world of difference IMO, between using info to close a winning trade and protect hard earned profit; as opposed to entering the market and putting some of my bank at risk.

"nearlythere", I've put those RSI levels in for you and shown a WM with more than the minimum number of points.

cheers theory