Pretty interesting, was not expecting that.
Lately, as my morning ritual, I will set all 6 of the Mini Futures markets I watch to a 15 minute chart, and then use that to create my support and resistance lines. This morning, I watched as the mini NASDAQ took a dive at the opening and continued past my support line. All morning I watched this one, but just as an observer. After about an hour, I noticed a change (or indicator) that this steady fall was on a reversal. I kinda had the feeling that it was gonna take some patience for this market to come back up. I took a few screen shots during the journey.
After closing out over $400 in profit, I was amazed to see that support line I drew a few hours ago, became the resistance line and the candles started falling again. A stark realization, that there is a method to this madness.
Saw a video yesterday, from 4 years ago, with a futures trader saying “hope is not a strategy”. That hit home.
