Friday, February 25, 2022

Open

Day

Trades

  1. Yellow circle: A third day in a row with not many setups, but still a very strong extended move. The yellow circle is the first 1m bounce off the 34 after the open, which sends it lower to the 15m 34. There is a pull up to test the 1m 34 again but one we should ignore.
  2. Yellow box: After the move ends around the 15m 34, which we would expect not to go lower based on 15/60 MACD pre-open, it reverses the rest of the day. The bottom on 5m is not ideal, but the 5m pauses a little after the 34 and pulls back while the 1m has a 34 test. This is the ideal long for the rest of the move, although one more comes later.
  3. The final trade is the orange circle, 5m down wave (barely) off the 15m 21. The 1m is also a bit tricky here, dipping twice and the second breaking the first low. But going by the 5m, the first dip should not be bought because the MACD has not crossed below 0. It is likely that 3m made a very clear significant candle to go bullish at this point.

Leave a Reply

Your email address will not be published. Required fields are marked *