If you have a signal and it doesn't go anywhere - the trend is probably the other way or you are in a consolidation.
Bias is long above the 15 min. opening range and short below it.
Inside the Opening range bias is more neutral but if I had to choose long above the Open and short below it.
I looking for the following setups...
- breakouts or breakdowns
- pullbacks
- stop rippers
Max preferred stop is 8 ticks - market volatility could suggest more.
Reminders:
1. Know your levels.
2. Demand & Supply is on the left.
3. Place stop above/below trading range.
4. No setup = No trade
5. Determine Market Structure then find a Signal