GOLD: First red day, Three days cycle pump and dump
Updated
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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
- Wednesday DAY 3 (reset DAY 1) Mid Point Week
- Thursday DAY 2
- Friday DAY 3 Closing Range ✅ day 3 cycle
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, scalping CP/LOD to HOD if a 3 session setup is presented. Is not what I'm looking for today, but still a possible scenario.
- Short: primary, first red day, market on the backside move, possibly going to complete the weekly pump and dump scenario. In the day, currently is pumping up, I will be waiting for an high in place (15min peak formation), high to be locked in (30/45 min consolidation up high), for a dump back into the LOD or LOW
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
Note
In the daily overview, the market is still pushing higher. Remember that I'm looking for pump and dump, waiting for the HOD potentially to be locked in.
30/45 min at least of consolidation before a potential backside.
If it keep going higher, redrawn the high low
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