Weekly Outlook Thanksgiving Bullish Continuation Off Support

昨天

Now that Monday and Tuesday have traded, I can have a better idea of what the market is doing. By allowing Monday (Opening Range) and Tuesday (Initial Balance) to trade, you can see the type of weekly template forming. By marking the opening price of the weekly candle in Cyan blue, you can better see if the week will be bearish, bullish or a doji based on how price trades around it.

Because this week gapped up and Tuesday failed to touch the weekly open, this tells me this is (with 85% certainty) a bullish continuation weekly candle. Based on this information, I will be looking for a pullback and a range expansion target for the week of 1 times Monday, Tuesday's High/Low




Monday Tuesday Opening Range/Initial Balance Range Expansion Target Technique:

7 小時前

交易進行

I am Long at 44,835 with only a 50 tick stop. I entered in 30 minutes before the close of the day. My only issue right now is, what do I target? I think for now, I will set a 5 to 1. This will be just before the pivot high.

7 小時前

註釋

My thought process for this trade.

The low of that bull hammer candle did not break. Equal low.
Three pushes into that low
A gap to the upside
Bullish weekly candle potential
Three pushes into the 33% retracement of the Monday, Tuesday Opening Range Initial Balance.