I should earn a nice profit today on this one. Take profit levels are the yellow and red fib levels.
- I like this setup on the 1 hour time frame. Looks very explosive - Previous week was a Failed2UP Candle (Red week prev. week) -Bullish candles on daily out to the yearly time frames -1 Hour Squeeze -Inside Week -This setup could lead to weekly break out
This is just a quick journal entry talking about the red, green, green setup. You want the weekly to for sure be "in force" and on the day have a red (pullback candle-high < high of candle before it), green candle, then next daily candle green. This is a nice day trade combo.
From my thesis yesterday, AMEX:SPY was able to break out of it's bearish order block on the 1 Hour time frame and give us 40% profit overnight. AMEX:SPY
We filled the bearish order block. AMEX:SPY looks like it wants to go down from here from filling the bearish order block on the hourly time frame.
The order blocks are so crucial regardless of the news. Powell spoke today and ran market up for an hour or so then the order block was fill on the 1 hour time frame then puts started to print.
No bias really on the market but currently holding NYSE:JPM Calls
I love this setup It has a squeeze on the 30M, 15M, and 10M time frames