I didn’t trade much, but there was one main move of the day after the open here. The market is very slow/choppy while building up strength for what looks like a 4 hour Wave B that is coming soon or has already started as of now.
Open
Day
Trades
- Orange box: Opening move was setup to go up, but 1m did not make a proper entry, so it topped and pulled lower for another 5m dip below 0. Once 5m dipped, it created a bullish entry here.
- Orange circle: 1m bullish hammers, not ideal candles, but good enough for a second entry here assuming we realize that the market is to go up (5m MACD shown with orange line).
- Yellow circle: After a steep move, and 5m divergence with exit candle, we know that it will ignore the 34 and go to a downwave. Optional short here until below 0.
- Purple circle: 5m upwave for final long, good for over 100 points. This is tricky because 5m breaks lows with a final candle before pulling higher, which is a reason not to use stops on this setup.