One strategy that's often recommended for intraday trading is using moving averages, particularly the 20-period and 50-period EMAs, to help identify trends and potential entry points. For instance, when the price crosses above these moving averages, it might signal a buying opportunity, while crossing below could indicate a selling opportunity.
In terms of risk management, a rule of thumb is to never risk more than 1-2% of your trading capital on a single trade. Setting stop-loss orders can help limit losses and safeguard your overall capital.
Also, pay attention to patterns like flags and triangles, as they can signal breakouts after a period of consolidation. And remember, staying mindful of the economic calendar is crucial, as significant news releases can cause rapid price movements.
Avoid the pitfall of overtrading by waiting for setups that match your criteria, and always trade with a clear plan and a calm mindset.