Chapter 3 lesson 2 - Weekly profiling Flashcards
1
Q
What are we ultimately looking to trade?
A
The expansion of the weekly range.
2
Q
If the week is bullish, when is the low of the week most likely to be formed?
A
Monday, Tuesday, or Wednesday’s London session. The low of the week will usually be in some kind of discount PD array, or it will be a run on a low to go higher.
3
Q
Why are Monday’s and Friday’s not ideal for trading?
A
The weekly expansion is usually composed of Tuesday, Wednesday and Thursday’s trading.
4
Q
If the week is bullish, when is the high of the week most likely to be formed?
A
The high is usually made on a Thursday, but can also be made on a Friday. Friday HOTW is generally correlated with high impact news.
It is advisable to use the weeks news events to anticipate when the HOTW will form.
5
Q
A
