Indicators: Pivots, Moving Averages: 16,50,100,200,550, VWAP, RSI, MACD, TICK, & TRIN.
I like to look at the Charts in many different timeframes to get a sense for overall trend.
The main timeframe for very short term daytrading is the one-minute 'tick' view.
I like to look at my charts and wait for the indicators to all line up for a good entry. Pivots often make the best entries.
Paramount to my strategy is Moving Averages.
Depending on my risk assessment of the conditions I rely on the 50-200 MA to determine trend & for entries and exits.
It is so simple.
If price is going down, it will be below the 50-200 MA.
If price is going up, it will be above the 50-200MA.
I have been watching this for a while and notice that when price crosses the 50 1min MA, velocity often get's a little boost on the cross. I believe this is because many algorithmic trading systems are using this exact system.
I like using the 1 minute 50sma (3min 16MA) , as a cut off point once a move get's going in the right direction, however the entry is often the hardest part and sometimes If I determine it to be choppy, I will give price a little more breathing room to play out. If you do not get simply stopped out for a small loss and begin to ride price into some profit cushion the Moving Averages come into play by simply sliding your stop loss down them. This is a great technique because it can often keep you in the trade for the majority of the move rather than simply taking a quick scalp for meager profits and missing the bulk of the move.