• In this method we are looking at just the previous candle to determine whether we are bullish or bearish

• Determine the closing of the previous candle and assess whether you are above or below the close

  • • > close means you are bullish

    • < close means you are bearish

• By timeframe (AAPL Example 06/20/22 to 06/24/22; market closed Monday for national holiday)

15-Minute (Bullish)

• On the 15 minute candle we see a quick rise up signaling a bullish movement

• I rarely use anything below the 15MIN timeframe as larger timeframes cuts out more of the noise and on the 1MIN chart you can get shaken out early overreacting to a movement

• The only time I use a 1MIN timeframe is when I am looking to potentially exit my position near a profit point or resistance

Daily (Bullish)

• On 06/21/22, we see a gap up and open at $133.42. Using the 30-minute candle we see it continue up quickly to a daily high of $137.06 before closing at $135.87.

Weekly Analysis (Bullish)

• • • On Tuesday, the week started off bullish with an opening of $133.42 and closing at $135.87

    • Our bias on the weekly would be bullish until it broke below $133.42

    • On Wednesday, it gapped down and we were cautious of whether it would fall below the opening or push upward. Throughout the day it tested new highs but closed within the previous candle

    • On Thursday, we see it rise and close above the previous candle high at $137.76. The key mark to close above was really $137.34; the previous weeks high (shows that it able to push above)

    • On Friday, we see a gap up to $139.90 and close at $141.91

Monthly (Bearish)

• • • Opening week of the month was bearish (06/01/22 to 06/03/22; Wednesday through Friday) opening at $149.90 and closing at $145.38.

    • The second week we see that the market pushed back up slightly, but never closing above our opening of the month at $149.90. By weeks end, we see a breakdown as it drops below $144.46 and closes at $137.06.

    • In the third week, we see it gap down and open at $132.87. We see a pullback and rise before closing the week at $131.56.

Overall Analysis

• Despite being a Bearish month, we found a week where price action dictated a quick reversal for a $8 move

• Using the opening as a method for determining time continuity can provide micro opportunities against the trend

• It is important to note that the trend is your friend and you truly want to look at the overall market and ride the larger movement instead; moves quicker and farther (greater price action)

• The reason why we dialed in on this particular week is to understand that the market has an ebb and flow to it that causes the market to have brief moments that go against the major trend. This is a good way to approach short term trading (intraday scalping and swing trading), spot reversals to exit your position and take profits, or to ride out for the long play.

Personal thoughts on play

• I would not have entered at the beginning of the week due to the premarket high of $135.99 being rejected

• Since we are ion a downtrend and there was a premarket high to be surpassed, I was looking for previous candle highs to close above in order for the price to continually rise.

• Based on the premarket high and choppiness for day one, I was targeting a close above $137.34 (06/15/22). Typically, when I am looking to enter, I will use my 10-Minute and 1-HR for time frame continuity.

• At the end of 06/23/22, with the market near close, I would have entered a starting position with the market most likely to close above my target.

• On the next day, it gaps up and I am now in my gap play using my opening as a potential stop loss and profit.

• It struggles, but eventually closes at $138.93. For me, since we are in a downtrend and typically 2-3 gap ups will often be met with a reversal, I would either look to close before market close or within the next few days; moving up my stop loss to lock in profits.

• The next day we see it gap up again, fourth since 06/17/22, and after a brief push up it continues to fall and close below our open; a good sign to close an exhausted position.