Four Elements for Day Trading Any Symbol
Oftentimes, traders focus most of their attention on price charts, candlesticks, and price-based indicators. The concentration of analysis is price-based. Price Based analysis is a great place to start; unfortunately, it does not include the other factors traders need to be looking at. There are always four elements in play with day trading.
We are looking at the S&P on a five-minute chart for today’s example.
Along with price, day traders should be looking at time, volume, and volatility.
Although our conversation today is based on an S&P trade that we took, keep in mind that once you understand time, volume, volatility and price, these strategies apply to numerous markets and can be used on any symbol.
