Yay, it dropped slightly.
After 11 it was pretty much impossible on any timeframe other than 1 min. Sometimes 1 min has advantages because gaps are more frequent - and gaps show S/R levels and breakouts.
Using stop of 6 point:
+ 40 in the morning
-/+ ? after 12. I got a bit confused and stayed 'out'.
+ 30 since 3:30
+ this bear move
-/+ £0 because I'm not trading.
Here was my basic strategy.
When price hits new high/low it retraces to an S/R level in the trend and rebounds. If there is no obvious S/R level in the pullback then it will reach new high/low until it finds one - presumably because if traders don't observe any roadblocks to the trend they will keep entering with the trend. Eventually the price reverses through an S/R level and continues until it reaches the next S/R level and then rebounds. How far it rebounds depends on whether there are obvious S/R levels in the pullback. Sometimes it can rebound over 100% AFTER it has broken an S/R level for a reverse. Also zig-zag does not tell you what the trend is.
There's even more to it than that.
If this was easy or always 100% to textbook I'd be doing it right now for money. I'm getting better at it though.
Don't know how far this current bear move will go, though it did break range lower. switching off now though.
