Choppy. Whipsaw. Frustrating.
There are plenty of words to describe the action in this stock market, some of which I can't put in print. The day-to-day action has become much more difficult for swing traders, especially on the long side, versus the past several years. It's tough to say buy-the-dip is officially dead, but I don't think anyone would argue it's hibernating.
When markets change, traders need to change with it or they could perish.
One approach to change I'd consider in the current market is adjusting your timeframe. Most traders and investors I talk with use daily or weekly charts. For those scalping, I see charts cut down to a few minutes, but why not consider something in between?
As of late, I've focused on a basic one-hour chart to set my bias. In short, when the 8-period simple moving average is above the 21-period simple moving average, then my bias is bullish. When the script is flipped, so is my bias.
In order to keep it as easy and quick to read, I created one-hour charts with the moving averages set as area colors. Green is bullish and red is bearish. Therefore, when the 8-period SMA is higher than the 21-period SMA, the green will be prevalent and vice versa.
While nothing is perfect, it is easy to see that maintaining a bullish bias when green is above red has resulted in a higher probability of trading profitability. Furthermore, closing a position, taking protective measures, or even taking a bearish trade when red is above green has worked out well.
Telsa and Amazon have been the two biggest winners in following this formula.
I am more hesitant to hold this approach overnight, but that's for each trader to decide.
If what you are doing in the markets is not working, it may come down to a simple change like timeframe. You might be surprised that you can take your current technical approach, shift the time frame, and reinvigorate an approach that stopped working a month or two ago.