Today we have had perfect examples of one of my "own rules" - ie the 9 minute rule.
I am showing a different GU Tick chart - ( another one I am currently testing) with a classic example of how "time" can assist you to intraday trade.
Many members know I am always going on about 30 minute and 60 minute time changes and how important they are - with regards to money flows. So for me I have a stopwatch and use time as one of my important indicators - for catching scalps and intraday trades.
Approximately 9 minutes either side a 30 min or One Hour time frame change is an important time for changes in small wave patterns - ie traders exiting trades and traders entering new trades.
Exactly on the hour the GU dropped - shown on tick chart ( EU also did the same)
So scalpers should have been selling - but the important part is when do you exit.
I normally try to exit and enter new trades around the 9 minute mark.
If the scalp sell had continued to fall after 9 mins past a main time frame - I would have stayed with the sell.
In this case we bottomed and then a HL and a chance for a scalp buy - for another 20 -30 pips within 30 minutes
I do have other timing rules and as you can imagine - the players and their robots never stick to the same patterns or routines - day in or day out - they change them
Therefore I use my stop watch to clock them :-)))
I am sure i will get lost of questions regarding this subject and i will say - you will not be able to read this from anywhere - simply because its my own findings - which I don't mind sharing with FX Street members.
Unfortunately - its not really for beginners or new traders - you need to get a good level and understand many other aspects of intra day trading to progress it - but at least it helps to explain why I am able to be successful scalping and to normally maintain over 70% accuracy ( 90% some times - but like all traders I make mistakes - because I am only human )