THE POWER OF THE M15 IN SCALPING & DAY TRADING

 

“Using FOMO & MOMO to your advantage!!”

The line between scalping & day trading is a murky one … ask 10 people and

you’ll get 23 answers … regardless, you need both FOMO & MOMO on your side

to get the best profitable results consistently … and there’s the rub, finding an

adequate indicator that’s consistent enough in a volatile market to deliver profits

… use highs and lows of the m15 to guide you, while keeping an eye on the ZLMA,

period 15 … white is upsloping, hot pink down sloping … for long scalps off the

m1, unless price is hitting an RM=2 OR RM=3, MAKE SURE YOUR ZMLA IS

WHITE … if it’s not and it’s hot pink, scalps and/or day trades can be treacherous

and dangerous, even though the m1 says buy … the resumption of the trend

lower usually is very fast when the short covering runs its course, and the very

last thing you want is liquidating a long position in crypto on a down red spike

… hold your breath cuz you ain’t gonna like this fill one bit.

On the m15, when the ZLMA, PERIOD 15 is white, the lows from previous m15’s

will hold and the market will continue to press higher with new highs … when

the m15 ZLMA, PERIOD 15 is hot pink, highs from previous m15’s don’t get taken

out and the market moves lower … when these colors change, market MOMO &

FOMO will change with it, sometimes for a big trend change, sometimes only

briefly … you have to watch these carefully, and use your mental stops when

colors change, either on the m15 or the m1.

DIRECTLY BELOW, THE M15 TODAY IN ETHUSD AT COINEXX LIVE SERVER.

click on chart to enlarge

You also have to know the market’s current volatility state in a general sense

… currently I have RM=2 [orange line] and RM=3 [red line] for the m15 … if things

get bat shit crazy I’ll move them to RM=3 & RM=4 [highest], and if things slow

down markedly, I’ll move them back to RM=1 & RM=2 … ditto on the m1 as well.

In this way, I stay current with support / resistance based on volatilities and not

simply on price … and again today, the BTC ETFs right out of the NYSE open

head to the downside, telling me there is some ETF liquidation and a downward

mood to start the trading day in New York … and ETH follows suit in some kind of

correlation pattern … tomorrow I’ll cover how the m1 works in tandem with the

m15 to keep you out of trouble and give you the best trades … realize however,

these models are for volatile markets like BTC, ETH, and gold when it moves

… get a market that isn’t doing much of anything except chopping around, and

algorithm parameters will chop as well … stay away from slow moving markets!

Not a very good trading action day for ETH … once the BTC ETFs set the mood

and the first downdraft lower after about 30 - 45 minutes, ETH spent the entirety

of the day chopping around a smallish range with very limited m15 white ZLMA

slope … that offered very little comfort to any FOMO / MOMO price action

upward … still, had one PAMM trade during the rollover on the m15 from hot

pink to white, and WE’RE UP SLIGHTLY … onto tomorrow.

… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,

and my own Brinks armored truck” 💓!! … Onward & Upward!!

-vegas