Price Action Lecture 1.0 Flashcards
Why is 9-10:30am EST the best time to trade?
9-10:30am is Q3 of NY session
Here we can look for SSMT to from between Q3 (9-1030) and Q2 NY (730-9) to present us with a trading opportunity
What 2 main parameters must occur in order for a SSMT to be considered valid?
- Bullish SSMT must occur under a TO / Bearish SSMT must occur above a TO
- At least 1 correlated asset must sweep while the other(s) taps into an OB or FVG
When trading the daily cycle, what quarters would you need to analyze for a NY trade?
When trading the daily cycle, you’d need to analyze/compare the sessions Q2 (London) and Q3 (NY)
When trading the NY cycle, what quarters do you need to analyze/compare?
For the NY cycle, you need to analyze Q2 and Q3 of the 90m cycles.
Q2 is from 7:30-9am Q3 is 9-1030am
What increases the probability of any PD array?
Any PDA stacked/layered with a TO increases the probability
How can we trade the 9-1030 window on news days?
-We should be looking for a confirmed SSMT confirmation being a 5m close above/below Q2s high/low AFTER the news event
-Look to enter off an IMB/OB left after CISD
What are some negative caveats to SSMT?
SSMT can be canceled by a 2nd SSMT
SSMT can result in only a small pullback
SSMT can be faked it not confirmed by T.O.
What time frame does the algorithm use for directional bias?
Daily time frame
What is IPDA date range and how can we use it?
-This is a time measurement tool that can be used to anticipate major price swings and reversals
- cast forward 60 (to 80) trading days from last major high/low to anticipate next directional shift