Pre Market Levels are CRITICAL in Day Trading 10X Gains For MeCME_MINI:ES1! AMEX:SPY NASDAQ:QQQ CME_MINI:NQ1! NASDAQ:TSLA
I wanted to share a basic strategy I've been using that has helped me increase my profitability almost 10X
Most people don't know that when the regular trading hours (RTH) markets are closed, the futures markets are running
Generally overnight action during the pre market will set a clear high and a clear low. Those key pivots are hidden support and resistance that you WILL NOT see on the normal chart.
Strategy
1 - Draw the Pre Market High/Low
2 - Use the Fibonacci tool in the direction of the overnight action either Bullish or Bearish
3 - Use the 0.618 Level as the KEY Algo level where you BUY THE DIP or SELL THE RIP
4 - Rinse and repeat - Always have a stop loss at the last major pivot and scale out profits over 25%
Here is a more complete video guide from a trade I took last week:
www.youtube.com
