Just to crystalize for myself my current understanding of how to choose the right instruments by direction of both market and the instrument itself... 1. Determine overall market trend. Is it trending down? Up? Currently its down, even though we had few up days. 2. When market is trending down,…
Exhausted today, not many comments. Need to skip first hour for now. Trade later. Trade market direction, even on stronger/weaker instruments. Maybe I should choose 2-3 instruments for the day and trade them. Select them based on presence of clear levels?…
Must watch/rewatch False Breakout Notes This is regarding gap down bear market scenario. Here author explains that entering at the low extremes (into LONG) is a mistake, and instead encourages trading SHORT F.B. (196.34) level. This is a solid point. Regarding F.B, and why they happen.…
In this strategy trader looks for ANY confirmation (in form of reversal either F.B. or B) of a resistance shown during first hour (most of the time during first 15 min of session open). It helps when the level is already established prior, so initial resistance happens around an…
Level Importance * Some levels are fought over, some are established. Pay attention to established levels, as these will yield intraday reversals. * HOD, LOD, prev. HOD, LOD or pre-market Extremes are all super important, and should be looked at actively when trading F.B. * Look for 2nd tests, to be more…
In this strategy trader selects instruments that have dumped on pre-market and at open.…