here s a chart reviewing last week that shows the consistency that the DOW likes to return to the 8 am , it does nt always do it but it does it often enough to give you a good edge
THIS MAY ADD TO YOUR EDGE
look at what happens in the market and when it happens so you dont have to spend all day at your charts
there are two things here to consider
the first is the level at which you enter and the second is the time at which you enter
So we put our red dashed line it at 8 am uk time and we put alerts at the areas where we think it may reverse both above this line and below this line
At this moment in time we have no idea which way the market will go , true ? but we do know that it will return to the 8 am line
The uk market ,ftse etc opens and they go on a tear ,there is a correlation frequently (not always tho )between the indices but for the sake of this explanation lets assume it s a risk on day the ftse shoots up the dax shoots up we will assume that the dow futures also therefore shoot up , then what happens after that move at SAY 10 30 AM or later the first return to the 8 am will start to occur THIS GIVES US OUR TRADING TIME WINDOW the same happens after the open of the dow in the UK pm
CHECK THIS OUT ON THE CHART dyor
SO
1/ 8 AM MARK YOUR LINE
2/10.30 AM ONWARD S PREPARE TO TRADE LOOK FOR YOUR FIRST SIGNAL
3/4PM ONWARD S PREPARE TO TRADE /LOOK FOR THE NEXT SIGNAL
THIS MAY ADD TO YOUR EDGE
look at what happens in the market and when it happens so you dont have to spend all day at your charts
there are two things here to consider
the first is the level at which you enter and the second is the time at which you enter
So we put our red dashed line it at 8 am uk time and we put alerts at the areas where we think it may reverse both above this line and below this line
At this moment in time we have no idea which way the market will go , true ? but we do know that it will return to the 8 am line
The uk market ,ftse etc opens and they go on a tear ,there is a correlation frequently (not always tho )between the indices but for the sake of this explanation lets assume it s a risk on day the ftse shoots up the dax shoots up we will assume that the dow futures also therefore shoot up , then what happens after that move at SAY 10 30 AM or later the first return to the 8 am will start to occur THIS GIVES US OUR TRADING TIME WINDOW the same happens after the open of the dow in the UK pm
CHECK THIS OUT ON THE CHART dyor
SO
1/ 8 AM MARK YOUR LINE
2/10.30 AM ONWARD S PREPARE TO TRADE LOOK FOR YOUR FIRST SIGNAL
3/4PM ONWARD S PREPARE TO TRADE /LOOK FOR THE NEXT SIGNAL
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.