Example of 6am candle. Levels marked in pink.
See how price respects it? Strange.... (not always, just often)
It is (one of) my points of reference.
Entry -> moving away yesterday's 6am candle.
Confirmation -> reaction from 6am candle.
Trade management -> today's 6am candle.
Where is price going -> back to 6am candle in the blue box.
Why... fucks know... just seems to do it often enough to be of advantage
Of course, it only a part of the picture, but it is important to me.
I hope that example helps.
d
Ignored
Good stuff, D!!!
I first came across the "opening range" concept in Mark Fisher's book (The Logical Trader). Like you wrote, it's a great way to establish bias, a line-in-the-sand idea. I will definitely look into it.
It looks like you drew the opening horizontal lines manually from the chart you attached. Is there an indicator that can automatically draw the opening horizontal lines?
and there you have it... to the very pip
(now now she will bounce back up)
Ignored
excellent work, as always.
i do not know that you or wmd trade these kind of breakout. they are one of my favourites.
what is interesting to me how you and wmd price target is aligned with my own..(even though we took different routes to the same price action conclusion)
i do not know that you or wmd trade these kind of breakout. they are one of my favourites.
what is interesting to me how you and wmd price target is aligned with my own..(even though we took different routes to the same price action conclusion)
I am very interested in that pattern (u did mention this once earlier). In fact it's funny you bring this pattern up though, for great minds must think a like. I was going to bring this pattern up with you. I have noticed situations on a 1 min chart where this occurs at in a micro level prior to a break out and you can get in with a pip or two SL, plus spread. Think r/r. The idea of something special has been brewing between my ears of late...
