expire in 3 days...LOL... NOOOOOOOOoooo...take your money to the local casino and play craps pass or don't pass...would have better odds 3 days isn't even enough time for price to test each side of its average true range=and then decide direction...and if you are playing the average true range you're just playing with normal noise...too easy to get into a gambler's way of thinking... You've got to be willing to give the trade some time with a stop loss... We very well could be at or near a bottom...so you go early you need wider stops and more time... Nothing wrong with front running daily=if daily shows hints of turning and ready for up=5,3 and 10,3 stochastics...right now that 30/60minute is likely just normal range/ATR noise... testing support/resistance for when daily shows signals of ready...
Did DOW get hammered today...lay offs happening...IS $28 going to hold...?...
CAT Break a bad habit you have to put 3 new habits in the gamblers new rule book. Only can trade the direction of the daily bias...IF these 3 things happen...not 2 and not one...you need alllll 3 on your side.. 1. CCI indicator crosses its 6 or 7 moving average suggesting an out of the money option play is setting up...get ready... 2. ULT has to have crossed the oversold or overbought signal line... 3. The %B averages have to be on you side... ALLL 3 first before you look at 30/60 minute... Only trade direction of daily BIAS and an added confidence if S&P also agrees in direction BIAS...and no screwing around with these indicator's settings to speed them up...