AMD open to close price action analysis, with 1 minute, RSI histo, trendlines, & a bit of 3CR
Going from the left side of the chart to the right, looking at AMD through my usual technical analysis lens, but with the goal of finding the highest probability 1 minute scalps within those setups, and attempting to game out exactly how I would manage those trades. There are definitely aspects of this that are still in flux, which is why I'm so discretionary right now around certain aspects of the exit management.
With some additions:
1. I have recently integrated the RSI histogram, and so far I'm loving it. If I had to pick one thing to take out of these new items, it is this.
2. I'm attempting to use trendlines in both a micro way and occasionally a macro way, they're pretty nice, not 100% necessary, but I think they're worth using
3. Looking for some 3 candle reversals around potential plays. Sometimes they come earlier, sometimes later. I'm finding them not to be necessary, but at the same time, it seems on higher timeframe candles, 3CR breakpoints horizontal levels can be very significant for the day's action. I will say that at the very least, 3CRs are additional confluence factors that make a setup look better.
I suspect trying to be 100% 1 minute scalp based ultimately may complicate things. Sometimes there are obvious great setups happening on a longer timeframe, and attempting to get a 1 minute entry into them just makes things more difficult than simply getting confirmation on the appropriate 3, 5, or even 15m timeframes and risking off the pullback level. On the other hand, even if I'm only concerned with a higher timeframe based entry, the 1 minute pullback can still provide opportunities to get a much better entry and still risk off the higher timeframe pullback, increasing R/R and winrates.