Tuesday, March 29, 2022

Open

Day

Trades

  1. Yellow circle: Note the circled MACD, so we know the 5m MACD needs a downwave before the open. 1m opens straight up off of a bullish harami, but we can wait for it to fail and get our short almost immediately. Non-sig bearish 7J candles at the top send it to the base, and it pulls up one more time with a bullish hanging man on the 34 before it starts finishing the down move.
  2. Orange circle: Note that the 15m/1H circled MACD are bullish pre-open, despite the 5m downwave. We get a setup on the 5m Wave/15m 34 shortly after the drop, with a bullish harami on the 5m to set it off. This bottom nearly gets tested on the 1m off the 34, but it holds, and we get a slow long afterward.
  3. Not circled: After making its way above 0, the 5m looks like a pullup, but it’s setting up for a wave B. This short is perfect, off of a 5m bearish harami, but the end of the wave is not clear. It might be tricky trying to take profit correctly off this short, but it is a defcent short nonetheless (75+ points).
  4. Blue circle: Without a proper sig-candle on the 5m, we might miss this, but 1m comes down for a proper downwave for the first time on this long. We can go by the 1H Bullish trend to look for these long entries, but also note the blue box on the 1m. This would be tempting to take long, based on the MACD, but there is no significant candle. If we take this, we get burned on the 1m pullup, and then have to enter again long in the blue circled area instead.
  5. Pink circle: This circled area is the wave B on the 5m, lined up with 15m 34, but the best entry might be the 15m bullish harami at the end of this developing setup.

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