MIDNIGHT OPEN & 8.30 AM OPEN
A thread ๐งต
A thread ๐งต
Using OHLC and OLHC of a daily candle is our fundation for applying midnight open and 8.30am open into our trading strategy.
Our POI for entry should be manipulation phase in which usually lies also midnight open or 8.30 am open.
Our POI for entry should be manipulation phase in which usually lies also midnight open or 8.30 am open.
For more detailed information about OHLC &OLHC and AMD pattern check the thread belowโฌ๏ธ
x.com
x.com
First lets cover time zone we are using for determening midnight and 8.30am open.
MIDNIGHT OPEN = 0.00 NY time (UTC -5)
8.30 AM OPEN= 8.30 am NY time (UTC -5)
MIDNIGHT OPEN = 0.00 NY time (UTC -5)
8.30 AM OPEN= 8.30 am NY time (UTC -5)
Price under midnight open = discount
Price above midnight open = premium
Price above midnight open = premium
BULLISH: If 8.30 am is lower than our midnight open and price trades bellow 8.30 am open we are in deep discount.
BEARISH: If 8.30 am is lower than our midnight open and price trades bellow 8.30 am open we are in deep premium.
BEARISH: If 8.30 am is lower than our midnight open and price trades bellow 8.30 am open we are in deep premium.
EXAMPLE for shematic 1:
Price above midnight open = premium
For NY session we wait for manipulation above 8.30am and search for entry there.
Price above midnight open = premium
For NY session we wait for manipulation above 8.30am and search for entry there.
EXAMPLE for schematic 2:
price trading below the midnight and 8.30am open - meaning we are in deep discount.
price trading below the midnight and 8.30am open - meaning we are in deep discount.
We can use open times for entries or targets.
Personally i use them for entries but not for targets.
Midnight open and 8.30am open is great addition for day trading and intraday scalping.
Personally i use them for entries but not for targets.
Midnight open and 8.30am open is great addition for day trading and intraday scalping.
Thank you for taking your time to go over my thread! Likes & retweets highly appriciated ๐ซถ
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