Sure, I'll expand. I'll look at the 12am-900am est area from a 15 min chart. I will use 60, 120, 240 min as higher time frame validations. I'll rarely trade against any higher TF validations. I'll look to see if we are 1) trending up, 2) trending down, 3) range-bound action, or 4) non-sense chop from 12-9est. Then my strategy gets broken down from there. I incorporate candle patterns, price action, moving averages, S/R, and pivots into my analyzation. 1) and 2) can be further expanded into how long its been trending for, and is it a slow push or is it a quick push after Euro open ? How I trade this depends on where the market opens in regards to this trend in relation to S/R levels, pivots, and price action. Do we see demand thrust failures anywhere during this trend to indicate a possible reversal in direction at open ? Is the market opening above or below moving averages in this trend, or right near them (mean reversion reasons) ? 3) and 4) can get rather tricky but I will rarely buy or sell an open if the market opens dead in the middle of the trading range. I'm always selling highs of the range or buying lows for best R / R if the market opens at these highs or lows. Not all lows or highs of course. I will look at the pivots, s/r levels, and moving averages to determine the R/R of the trade. The more of these that line up the better. I will not be buying or shorting momentum here off the open if i'm classifying this as a rangebound or chop during pre-market. Especially if the market fell hard off the open like yesterday. If I'm not in at 930am est or shortly thereafter, I'm not shorting it. Just havent found a decent edge in doing so. I considered yesterday my range-bound setup. the 9:00-9:15 candle was my demand thrust failure to solidify this as a range-bound day strategy. During this morning action, I will not be buying or selling near the middle of the range unless I see a really nice bearflag developing. Shorting highs or buying lows of the range. Narrowing it down from there is my entry techniques which I won't get into. I know I've been vague, but its hard to put my thoughts on paper !
They had to get a green close. How else would media explain 6 days down . Plain stupidity what is being done to the market right. Complete disconnect from reality.