Another good technical style lesson is when watching volume. We use the 10 minute charts for deviations but also for choppy market and for volume.
Notice how on this chart there was a volume spike on Oil. Both times oil pulled back 50%. Expect a 50-100% pullback when there is a volume spike. Use this for tightening stops or even considering avoiding a small apex right at the top of a volume spike.
These where also right at deviation levels. And the first one had a choppy market warning as well which the market did go into chop for about an hour before resuming its trend.
Using this could have helped you avoid a small apex that happened at the top of the chart and a short apex that happened right at the -.5 deviation level.
Remember I primarily use style on the basis of when to “stand aside” on a trade more than when to take a trade and i try to limit it to 10% of my trades as to much style turns into opinion that turns into inconsistent results.
If you see something happen often enough that it gives you a major edge then you can move it from “style” to “system” and make it a rule.
There are multiple applications but this has served me the best using it for this purpose.
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