There are so many ways to day trade. I like to keep it simple for day trading. Even tho I use waves to give a direction in the market--which is mainly angle lines of support and resistance. I am showing what a trader should look for. Then when days I have free. I will post the trades ahead of time to watch for. Otherwise practice on your own as these are simple and eagle eye does it.

First when looking at a chart we notice that there are three types of bars in general.

The bar that opens up and never returns for the rest of the day. This one often has to be entered after the open in the afternoon or later that night.

The second bar is one that opens up and goes in opposite direction of the trend for that day and then reverses and trends the rest of the day. This market turn--normally happens between 5am-930am RMT. Most at the latter, which is prior lunch ECT.

The third--which I like to avoid. The bar that opens and closes in the general same vincienty. Otherwise these can be traded too. Just low returns to risk.

When I trade. I like to expect risk/reward to be in the 1:8-10 or higher.

To do that an have many trades our entry point has to be such to not use more then one point for Protective stop. $50.

I am going to point out some patterns. As this is more pattern trading then anything else with a watchful eagle eye. I am into patterns--even tho many of them circle around waves.

Notice the double tops/bottoms on this chart. These are all low risk trades to enter. The one at very top has two arrows. Trying to show you the lower and higher double top. All these you can enter and hold for most--if not all the day and exit at end of day or in last half hour.

One characteristic that all these patterns have. Even tho the bars do not appear so. The market struggled to make that second low or high. All but one of them changed directions in the time frame mentioned-5-9:30RMT.

On this chart. In ten days that gave six solid trades under one point risk and averaged $660 per a trade.

The next post will offer what I call the fibonacci method.

Anyone else that has ideas for day trading--feel free to express them for added arsenal. Or pointers to this method to improve it.

Good day trades to everyone.