It’s been a while since I put a Dowscalper scalping video together. Since upgrading to Win 10, I have been finding my screen recording software not working so well. It puts in blank spots and when rendering the video, it doesn’t do it all.
This video is actually two segments of the same video put together so you may see some screen jumps.
One thing that you hear a lot of is that the lower time frames are noise. I agree if you don’t know what to look for. Frankly, these low time frames show you detail that you will not see on the higher time frames.
Both trades and their targets would not have been as obvious if I was looking at 15 minute charts. The structure would be in place but price structure can be quite large depending on the context. By zeroing on the details, I can find levels where there are multiple touches of a support/resistance/trend line.
You can see the horizontal resistance line where the trades were targeted to. If you were to pull up your YM Futures chart and lay the line in the exact location, you will see that later on in the session that price was attracted to that line many times. Astute traders would have had many more trading opportunities if they trade later into the session.
This video is broken down for Dowscalper members pointing out various technical factors including Fibonacci extension price targets and measured moves.