GBPCAD: First red day, Tuesday day 2
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“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
2. SIGNAL DAY
3. WEEKLY TEMPLATE
4. THESIS:
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
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
- Monday DAY 1 Opening Range
- Tuesday DAY 2 Initial Balance ✅ day 3 cycle
- 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: not interested, although there is volume trap below yesterday closing price, so potentially a dump and pump of Mon and Tue, the 3 session setup is not part of my entry criteria for a long setup.
- Short: primary, first red day when setup correctly is a good potential sell high opportunity. Short are in the market and Tue placed a lower low into the current LOW. Tue usually expands the range but this is not the perfect scenario.
However, if until 10am MRN release, if the market will place a current HOD, locking it, I will be willing to take a short setup.
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
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