Market Geometry like this normally results in some kind of significant move - especially when you factor in price...
and the other stock indexes, S&P500, The Russell, NYSE - all have this.
I don't need to have an opinion - all i need to do is to use a system that can leverage this condition.
I would be looking to line up at a session open... with the event of breaking the high, bouncing double top or a fakeout of the high with a continuation down towards the areas i have marked. - so really 3 possible signals to enter - bounce, break or fake...
Intraday entry could be the open range breakout at a high energy time sat 9.30 to 11.30 on - perhaps in addition to some seasonal day of the week - - or price cycle range breakout - 1 or more congested days.... for example some other fundamental timing or release etc... I will demonstrate this technique on an intra-day chart
I have also been assisted here by the MTAutoFib to show me likely retracement levels as well as extension...
In addition the MTHLevels - is set here to show peaks and trough levels of Support... and Resistance...
These indicators are available in Charts > Indicators > Market Place AddOns > MicroTrends
more details of the indicators can be found here: www.indicatorfactory...dingview-indicators/
and the other stock indexes, S&P500, The Russell, NYSE - all have this.
I don't need to have an opinion - all i need to do is to use a system that can leverage this condition.
I would be looking to line up at a session open... with the event of breaking the high, bouncing double top or a fakeout of the high with a continuation down towards the areas i have marked. - so really 3 possible signals to enter - bounce, break or fake...
Intraday entry could be the open range breakout at a high energy time sat 9.30 to 11.30 on - perhaps in addition to some seasonal day of the week - - or price cycle range breakout - 1 or more congested days.... for example some other fundamental timing or release etc... I will demonstrate this technique on an intra-day chart
I have also been assisted here by the MTAutoFib to show me likely retracement levels as well as extension...
In addition the MTHLevels - is set here to show peaks and trough levels of Support... and Resistance...
These indicators are available in Charts > Indicators > Market Place AddOns > MicroTrends
more details of the indicators can be found here: www.indicatorfactory...dingview-indicators/
