Important update regarding the 'Trades I liked' chart:
I'M GOING NAKED ๐ฑ
Don't worry, there is method behind the madness ๐ This is a thread, grab a coffee or a glass of wine. Or you could just have an Irish Coffee instead, cover all bases๐
I used to take trades all the time off various levels & vwaps. All these give off some great trades! However more recently, the majority of my trades have been off the naked bars. Not a lot beats trading wicks for me, it's a simple setup that repeats all day long!
As Matt used to say in the room "If you're not using something, why the fuck is it on your chart"? I found myself thinking the same thing tonight when explaining my chart to someone.
Now altho I haven't been taking that many trades off levels or vwaps, I still want to know where they are. E.G. If I'm long & I can see we're going to run into the PSH (Previous Session High) or Day 3 VWAP, I'll think abt adding-on (to bring target below) or killing trade there.
Context is so important. The 15m chart with the levels and vwaps on give me what I need to see (the overall picture with where the potential road blocks for the day will be). For the 1m chart, I don't actually need them on there.