Friday, April 29, 2022

Open

Day

Trades

  1. Yellow circle: Market opens with a 1m bullish wave, and it stalls and pulls back momentarily, to dip back below 0 just slightly. This dip gets a bullish harami, which I took, because the 5m top was clearly not bearish. This move explodes through the highs and then stalls out, with a 5m bearish harami developing. We know the move is bearish overall with the 15-4H, so we can short this.
  2. Orange circle: On the way down, 1m pulls up to the 34 with a huge bearish non-sig 7J. We can take this for an immediate low, but the signal is awful so it is skippable.
  3. Purple circle: When 1m pulls above 0, we get a better set up for a down wave, witha bearish harami (bullish gravestone breaks this high). But note that the 1m stops at the 34, and bursts back upward again to test the 5m 34, when earlier it had seemed ready to fail off the 5m 21. This 1m juke is a theme because it occurs again later. But the new high has a bearish gravestone non-sig 7J, and we can short this very safely.
  4. Blue circle: 1m comes off the 34 again with a bearish gravestone engulf, for a second short entry. Not the best signal because of the distance to the EMA, but still solid.
  5. Yellow box: We get another 1m wave and 5m 21, and this time we get another juke as the 5m stalls on the 21 for a moment before continuing the move. The initial short is good, a bearish harami 7J on the 1m, but the 34 again sends it through the highs for about 10-15 point of red before it collapses again. The only thing we can look to here is that the 5m makes a bearish candle on the second burst, which solidifies the move, but initially we may just have to sit through the red.
  6. Orange box: 1m comes up to the 34 again after this previous wave, and makes a bullish gravestone 7J followed by a bearish engulf, and then collapses through the lows continuously to end the day.

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