This is a specific situation where the market is fully same stacked at 6:30 AM, and the 1m is either resting on the 34 or soon to test it. We look to enter immediately typically, depending on overall context.
This context has been thoroughly tested across 2023, and needs further testing.
Questions we must ask
Is the 1m just coming across the 0 line to get back on the trend? This means it has not used the 34 yet.
If so, we look for the immediate 34 test, with a significant candle. If there is no candle, skip.
- Is the 1m opposite of the 0 line against the HTF stack?
If so, we take the first significant candle and hold for a run through the relative H/L. If there is no proper reversal candle to take it back across the 0 line, skip.
2. Is the 1m showing a clear 7J candle against the overall trend? Gravestone, hammer, with gap showing, at the last H/L?
If so, skip and wait until the 1m wave.
3. Is it a 530 News Day?
If there is a Mountain/Valley structure to correct the news, we skip this protocol completely and refer to the 530 news protocol for reversals instead.
However, if there is no overdue divergence on 5/15, and 1m is already on the right side of the 0 line, and stacked, it will run in the same direction off the 34.
4. Does the 5m-15m have a reversal gravestone/hammer, even non-significant, along the 7 EMA?
Skip.
Notes
1) If 5m is huddled along the 7 while fully same stacked, and 1m is along the 34, we take it and hold.
2/1/23: 5:15 news day, and 1m insta crashes when starting at 34.
2) If 1m is on opposite side of 0 line, pointed in the same direction of the same stack trend:
2A) If it bursts, we don’t take it. We wait for a pullback for 1m wave and continuation.
5/10 1m waits for wave
5/26 1m doesn’t wait for wave
2B) If 1m pulls back against the 0 line cross, and makes a reversal sig candle, we take that and hold.
3) If 1H is divergent and overnight MACD is against same stack direction, we skip the 5m 7 Open.
4) If 1m is wide and same stacked:
4A) If 1m is divergent after new H/L (pre-open), we skip and wait for wave.
7/17, 2/2
4B) If 1m is not divergent after new H/L (pre-open), and just came from recent counterstack direction wave, we take 34 and hold.
12/18
2/9: immediately collapses after open
5/17: stops and crashes shortly after