PCYR Trade 2 - Nov 24 Opening Sustainable Momentum
Trade Grade B (6 Points)
Pure technical, not idea driven
Confluence in RUT & SPX direction
Four Technical positioning
1) Recent rejection above 100SMA
2) Momentum candle clears consolidation range
3) Trend continuation
4) Long bullish wicks
Risk & Reward, next high is 2R away
Opening Sustainable Momentum 🧑🏻🚀
Strategy
Signals identify market opening H1 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
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
