123Tom's TA study group

[Citrati]

I trade intraday scalps and hold nothing overnight or over weekends.
The more volatile the markets the better the trade. I do not hold overnight or over weekends as their is enough intraday volatility for trading. That way I can't get slammed by an unexpected tweet, world event etc.
I trade NUGT/DUST which are 3X ETF's.
LABU/LABD which are 3X ETF's.
TVIX is the last ETF and also a 3X.

For market information I run a tab for realtime gold futures 5minute chart from investing.com.
I run an open 5minute SPY chart next to TVIX.

I trade pairs because you know immediately when the bull ETF tops it is time to look at the bear ETF for a set up.
I trade from a 5minute chart and check hourly for trend strength. Daily shows the longer term action and trend.
As you have probably noticed I use RSI at 8 setting, MACD at 6,13,5 and standard, and slow stoch at 10.
I use CMF and OBV to get the money element. Divergences from price trend are very important.
I use the VbP for market structure and supply/demand that creates support/resistance zones.
Those are the basics.




Then it is about patterns and set ups. Strength and weakness.