FLEX - Oct 24 Opening Sustainable Momentum
RUT and SPX both started rallying together and most of the market became green. RUT confirmed the bullish hammer by breaking a previous high. SPX's rally further confirmed a successful bullish breakout.
FLEX had a momentum signal and had broken through a key resistance point that was previously rejected on the 27 Sep. I placed an entry position on the high of the H2 candle and got filled.
Opening Sustainable Momentum 🧑🏻🚀
Strategy
Signals identify market opening H2 candles through momentum and behaviour change that potentially could indicate a shift in the current price overall structure (Price gaps and ADR %).
Risk
We use the signal candle's highs and lows for entry and stop loss. If price hits the stop loss, it is clear that the shift we expected did not come to fruitation.
Current SL is at 0.25Fib
Stock Pool
Shortlisted Mid to Small cap Tech stocks that have clear D1 and H2 price movement (Not choppy). Historically has shown price movements aligned to high impact moves in on the RUT index.
Focus
Focus is never on the signal candle alone, but it's role in the larger structure and the direction it is inclined towards with a minimum Risk & Reward of 2R.
Stock must be in a pull back or consolidation area waiting for a broad market momentum to ignite it forward.
Character
Trend, Positive Skew
