based on historic intersession gap and historic WRB, and the gap to the last session close
Time allowing I might explain a few things later.
One thing about the future is predictable, mainly, that the future is unpredictable!
just an illustration why I went long on DOW
Sorry Strat, the gaps concept might be related but it is not the main thrust of this great thread. For an acute observer they are related, but it is hard to find acute observers
Good points earned, flat atm. coffee time
Intend to trade later, already very positive on the day, though I missed some shorts, at the NYSE open, though not all of them,
Looking at the above chart one would know exactly where to cover the shorts, and try to reverse for longs.
I do not think that there are so many traders marking these gaps and WRB, the PA is related to many things, eg about 50% Fib Ret of the WRB, large blue bar 7 sessions back, confluence with the intersession gap, and some easy places to put the SL, if wrong long entry, should one ask for more?
Fibs in situation like the above one come automatically, without drawing them every time. If interested have a look at post 356, p18 in my journal, where the fibs have been drawn, trading mainly DOW has advantage, as one is more likely to remember these critical zones.
https://www.forexfactory.com/attachm...l?d=1717531868
Celebrating discipline.
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