Open
Day
Trades
- Again not many trades this day. 1m made a bearish bottom before 6:30 but not a significant setup, so it could be missed and that’s fine. The first trade comes with the yellow box, 1m off the 34 after the initial move came off the 1m wave.
- After this new high, 5m falls back toward the 21/34. Note that off the 21, it fails at first. The 5m MACD is so weak at this point that we need to allow it to come back all the way to the 34. Once it’s on the 34, the 1m dips below 0 several times, with the orange circles indicating 3 entries. The middle entry is lowest, and most precise, while the other two form potential reverse head and shoulders and the final move coming off the 5m 21 shortly after the lowest low.
After these, we can enter again on 1m off the 34 but really it is one large move until the end of the day when 5m finally has its 7J exit signals.