Daytrading Setup First Green Day Low Of Day Buying Opportunity
I will be looking for a low of day buying opportunity at/near the NY session for the first green day setup.
I don't know how far down price will go first but after a double bottom at the Low of Day, I will be looking for price to confirm the low of day and close back inside the 20sma.
Either Thursday or Friday could present. It all depends on how price behaves near the NY open.
The target I will be targeting is the high of the dump day at 43,320.
If the trade does indeed setup, stop is 65 ticks and target is around 500 ticks for a nice 8 to 1 potential.
Trade management would be to watch how price behaves. This should be a parabolic trade and if I see price chopping around after entry, I will seriously consider tightening up the stop and reducing risk. It should go fast and not come back.
I don't know how far down price will go first but after a double bottom at the Low of Day, I will be looking for price to confirm the low of day and close back inside the 20sma.
Either Thursday or Friday could present. It all depends on how price behaves near the NY open.
The target I will be targeting is the high of the dump day at 43,320.
If the trade does indeed setup, stop is 65 ticks and target is around 500 ticks for a nice 8 to 1 potential.
Trade management would be to watch how price behaves. This should be a parabolic trade and if I see price chopping around after entry, I will seriously consider tightening up the stop and reducing risk. It should go fast and not come back.
Note
This gap right at the dump day is the target for being filled.Order cancelled
It looks like I was correct in identifying the First Green Day parabolic buy setup. Tis a shame it triggered in Asia and not in NY. I only trade in NY and so was not able to enter in. The only thing left now is a Low Hanging Fruit tradeNote
This is my next best entry now that price took off at Asia. I want to get a buy entry down at the open. It may or may not trigger today but I will be waiting down there. I don't chase price. Either I get a pullback or I don't trade today.
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.