Fundamentally if there are positive news the market should go up if we are not in a strong downtrend:
Technically there are 4 setups that allow me to say long or short for the entire day:
- The Elliotwave Setups (labeled TS1, TS3 on my charts) that happen after an AB Correction with target areas 1,2,3,4 or 5 (orange or pink boxes on my charts) I basically hold the position till target area 3 or 4 is reached, sometimes these areas do not get reached so I will exit at the end of the session.
- The Holy Grail Setups that happen after there is a confirmed reversal in the Decision Point Area (blue box above prior day high or low) I basically hold the position till the opposite Decision Point Area is reached (for example a SHORT trade from the high of prior day high I will hold till price reached below prior days low)
- The Oops Setup on Daily charts when a market opens below prior days close and it is in uptrend or has a decision point reversal when the cash session starts
- Breakout below or above prior day and day before yesterdays high. These confirmed Breakouts that do not lead to a Holy Grail Reversal setup I basically hold till the end of the session, swing 50% or till the daily target 1 or 2 (see gold chart on which target 1 (lime greenline) was already reached but target 2 (dark greenline) was not reached yet) and on the YM chart you can see that the most profitable breakout setups happen when the price goes below a strong upday (green) or above a strong downday (red):
No comments:
Post a Comment