Each week I will revisit my DB Watchlist to make sure I am spending my time focusing on those pairs with the best Clarity which increases the likelihood of follow-through (with the trend) and keeps me aware of when I am “swimming upstream” aka trading counter-trend.
Summertime is a a great time to look very short-term for me as personally I like to downshift during this “doldrums” time of the year and professionally it is a great time to teach, take stock of my own trading, as well as downshift in preparation for my “peak” trading months September, October, February, March, and April. It’s like the “off season” for a professional athlete.
There really hasn’t been terrific Clarity (by my criteria) on the 15 and five-minute charts. Rather it seems the daily time frame still where the psychology is clearest. While my DB Watchlist is based upon the psychology of the “overall and dominant” trend that I think is best determined by the daily, that doesn’t mean that is the only time frame I will trade…it simply helps me define the trend (if any) and determine whether intraday trades can be taken longer-term or should be kept shorter-term and most importantly if they are trend-following or counter-trend.
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