Update to Intraday Method

This will of course be updated on the relevant page of the blog, but I wanted to add it to the main feed to satisfy my chronological  needs.

Update 270514: Quite simple really, sticking to the two setups I have (1. with trend PB to 20ema 2. SAR of With trend PB) but adding S&R to them, basically what I've been doing recently.

Chart Setup...

• 5 minute chart
• 8 SMA / 20EMA (trend)
• Yesterday's high, low and midpoint.
• 00s and 50s
• Obvious levels (rectangles from prior PBs / RLs / Big wicks etc)

With Trend Setups...

• LSH@20+S (Long): Getting long when price ticks above the Lowest Sessions High that touched the 20EMA and an area of R simultaneously. Support could be from a prior S level or a PC R level that's become S. 
• HSL@20+R (Short):  Getting short when price ticks below the Highest Sessions Low that touched the 20EMA and an area of R simultaneously. Resistance could be from a prior R level or a PC S level that's become R.

Counter Trend Setups...

• SAR LSH@20+S (Short):  Stop And Reverse a LSH@20+S  when its ISL gets taken out. The idea being that when a high probability trade fails. There's a high probability price will go the other way.
• SAR HSL@20+R (Long): Stop And Reverse a HSL@20+R  when its ISL gets taken out. The idea being that when a high probability trade fails. There's a high probability price will go the other way.

Exceptions: Avoid any setup in which the LSH or HSL is a Doji, NRB or O/C against trend.  Hi wave (LSH /HSL with long wicks) with reasonable bodies should be traded. TBH don't know how important these are and whether its just far more important to trade at multiple levels (Ie 20ema + S/R) but i'm going to stick with this for the time being.

Initial Stop Loss: placed below the LSH / above the HSL + spread +1 pip

Profit Targets: Going for a 1:1 RRR. so must remember to subtract the spread from my PT on shorts.

Support and Resistance
The issues I am facing is what I'm call the S&R Double Edged Sword. By waiting for price to PB/RL to both the 20ema + S/R I have greatly reduced the amount of shit trades I take however...  Throwing a load of S&R on my chart shits up my ability to both hold a trade and even enter a one, if there is imminent S/R before my 1:1 is met.
The S&R I am currently adding to my chart are .00, .50, yesterday's high low and cmidpoint then any obvious S/R levels (rectangles) I can see when looking left (last PB /RL / big wicks etc)... I've got to remember that these are rough areas, price may come up short,  may surpass or meet. Fact is Yesterday's highs and lows are objective depending on which country's close you use and 00s and 50s are almost never tested to the tick because institutions will be hunting stops on both sides. Ultimately you don't know where PA will stop so you may as well trade through major levels until at least to the most recent S/R rectangle as this will be more accurate measure of current supply and demand.