Daily Patterns for Tuesday 6.22Assumptions:
This is a moving average of a Tuesday Pattern that follows a Holiday Weekend where the market is closed on Monday. This provides a potential map for 6/21/22.
Data is a simple weighted average in Excel.
Holidays present and Weights: Indep Day 21- 10%, Labor Day 21 - 15%, MLK 22 - 20%, Wash Bday 22 - 25%, Mem Day 22 - 30%.
Volatility is calculated based on an absolute percentage difference of the moving average Open and Close Values on a 5 minute chart.
Danger Zones with low Volatility are highlighted in Red.
Potential Danger Zones for Scalping on Tuesday following a holiday are:
9:45AM
10:35AM
11:15-1135AM
1:00 PM
135PM
235 PM
325-335 PM
These zones should be avoided as they have low volatility, and are chop zones.
The chart is a visual display of the data on the left, showing the overall trend movement throughout the day. This data is simply a model of past data. Not a trading plan. You can use the visual chart to view the areas of low volatility, and how the market trend is overall throughout the day.
This was built in Excel with simple formulas, but using data exported from Trading View.