US30: First red day

10 Jun

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“Trade setups, not movements”

1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)

• Monday DAY 1 Opening Range ✅ no daily cycle
  
• Tuesday DAY 2 Initial Balance
  
• Wednesday DAY 3 (reset DAY 1) Mid Point Week
  
• Thursday DAY 2
  
• Friday DAY 3 Closing Range
  

2. SIGNAL DAY

• First Red Day ✅
  
• First Green Day
  
• 3 Days Long Breakout
  
• 3 Days Short Breakout
  
• Inside Day
  

3. WEEKLY TEMPLATE

• Pump&Dump ✅
  
• Dump&Pump
  
• Frontside
  
• Backside ✅
  

4. THESIS:

• Long: secondary, the market could consolidated in Friday LOD, for a reversal trade during NYO or 10am. Not my best scenario of the day, but I would be willing to scalp it from LOD to CP (closing price).
  
• Short: primary, first red day signal, false break high of the week, US30 has now a great potential to start the backside back into the previous LOW. However, the failed breakout hasn't been confirmed yet, no other time frames (daily levels) are involved.
  I will be waiting for a level to be trigged, and then looking for a setup if presented.
  

Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni

10 Jun

Nota

I won't touch US30 before NY equity opening at 9:30am NYT

11 Jun

Nota

US30 closed as an inside day, I won't make any guess, but I will be waiting for one of the two extremes to be triggered first!

11 Jun

Nota

Extending the range on the backside... pump and dump