Final Hour Fireworks
Opportunities abound in America.
Are we prepared for them?
Premarket, we decided upon a game plan. Short spikes high, buy plunge low. Knowing where high and low is located is part of our system. Most of all, relax and just feel the market rhythm as it flows.
Then we reacted and executed it to the best of our ability.
We were unafraid of calls for a bullish open, but open to the possibility that the half gap trade was all we could get.
Our system suggested test for support, and range likely until one side blinked. We thought the formation was rectangular. I felt the market structure needed another test of the 12 to 10 area for stability, but the stubborn 18 had to let go first.
We had a similar range expected to the one that @carlfutia predicted. Dynamic pivots, sequence trading, and common sense helped us capitalize on great rhythm today.
Triple Seven was hot again, finding a power chart similar to the one I liked that looked like a resistance chart developing. It turned out to be true, and we wanted the 18.25 and 16.5 T1 target to be hit prior to lunch, hopefully busting stops to trigger a breakdown and test the 12.
Volume was light, and we wanted out of Dodge by High Noon. 1 P.M. max if we pushed it for a final leg and it made sense (it did).
The speed chart works well with the power charts, and helps us see things better when price is moving fast.
A few members hung out, but I advised them to watch for piker moves; in fact we got two of them: one up and one down. They tested the Angel and the Demon in the last hour. A good reason to be flat late Friday before a Holiday… why ruin a good week with nonsense moves?They look easy in hindsight… but we all know better.