This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

I just coded my new trading rules for short scalps into a set of paintbars, and looked at the charts for many of the names called out today on Wallstreak by StreetSmack. A gray arrow above the candle means that momentum is slowing, so get ready. A red arrow means that a new downtrend is in place, and it’s safe to scale in to the trade.

Look at this:

I need to tune them a bit still to weed out a few false positives and some missed entries due to technicalities in how I want them to appear, but I can’t wait for trading tomorrow!!!

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com