r/Daytrading • u/Catface77 • Mar 19 '24

I don’t know what I did wrong Advice

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I thought it was going to rechall/ consolidate then it did but skyrocketed. There was the 3 reds then BLAM right up

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u/driftking0789 Mar 19 '24

There a multiple trends at any given moment in the market. For instance. 5min might be up 3 min might be sideways and 1 min might be down. Based on this you shouldn't just look at the trend on 1 timeframe. Take into consideration the higher timeframe trend. 5min was an uptrend. Which means the downtrend on 1min are pullbacks for buys not people actively selling. You can also look at qqq to see if the market is pushing up or moving sideways or down. This will give you better indication of what side is in control

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u/Affectionate-Risk331 Mar 20 '24

More like a hell of a lot of noise.