Weekly Template Flashcards
On what day starts the weekly template?
Always on Monday
Which day is day ONE on the weekly template?
MONDAY is always day ONE
How many cycles has the weekly template?
Two 3 day cycles:
- from Monday, Tuesday, Wednesday: Day 1, 2 and 3.
- from Wednesday, Thursday, Friday: Day 1, 2 and 3.
What is Wednesday for a day in the weekly template?
Wednesday is the third day of the first cycle and the new day one of the second cycle of the weekly template, wednesday, thursday, friday with a new range.
What is Monday called?
The Opening Range, OR
What is Tuesday called?
The Initial Balance, IB
What is the OR?
OR=Opening Range
The opening range (OR) describes an asset’s high and low price for a short period just after the market opens, often the first fifteen minutes of the trading day.
The Opening Range of the WEEK is the high/low of Monday.
What is IB?
IB=Initial Balance
The price range resulting from the market’s trade during the first two 30 minute periods of the regular trading hours session.
For this style of trading, this is referring to the high/low range from the first two days of the week: Monday and Tuesday.
Two MAJOR Patterns of the Weekly Template to look for?
I only look for these two type of setups:
* Parabolic Trend
* Short Squeeze, LOW Reversal
* Long Squeeze, HOW Reversal
What are Mondays Characteristics?
- Monday is the first day of the week.
- Opening Range for the week.
- Restarts the weekly cycle, but last weeks high/low are IMPORTANT!
- Day ONE runner is a strong unidirectional move on a MONDAY that is reaching for previous weeks high or low: DO NOT COUNTERTREND.
What Questions you ask yourself on a Monday?
- How many weeks of rise or fall have there been?
- Where are the previous weeks high and low?
- Has one of those levels been hit prior to my session?
- Current market structure…has there been a BOS which is causing a dump and pump or pump and dump?
- What has the market done in relation to the ASIAN RANGE?!
- Which variant of the Asian range am I looking at?
Trending
Stop Hunt High + Drop
Stop Hunt Low + Rise
What does 3 Levels of rise or fall mean?
*Finding 3 levels is important because: *
* Gives the market room to go back in the other direction and can maximize risk to reward opportunities.
* Measurements do NOT change, and are an OBJECTIVE rule.
* Measurement is from high of week to low of week, OR from Low of week to High of week.
What is a Long Squeeze setup?
a parabolic setup
Longs are trapped
Is a Long Squeeze a reversal setup?
yes it is
longs are trapped
What is a Short Squeeze setup?
shorts are trapped
What are the Short Squeeze Characteristics?
- 2-3 Day Trading Setup
- 2-3 Day of Previous Days Low Triggered into the market.
- Must have a “Dump Day”
- Must have a Break In Structure to the upside.
- Looking for “trend” back into the Low of Week (LOW)
Are shorts triggered into the market with a Short Squeeze?
yes, and they are being trapped.
What are some Short Squeeze Considerations?
Should build a 1-2 Day Rectangle AT THE LOW OF THE WEEK.
Best In Combination with other signal Day Confluence (FGD/3 Days of Breakout Traders).
Meant to be a high tier setup (Range Expansion Opportunity)
Watch for the LOW BEAR CANDLE. It is important when using this setup.
Does a Short Squeeze need a Dump Day?
yes
Is the Low Bear important with the Short Squeeze?
yes
Do you enter the Short Squeeze on the 15m or the 1 m chart?
see card 22
Analysis on the m15 and entry on the m1
What are entry criteria for the SS on the M1 chart?
see card 21
Entry Criteria SS**
1. High/Low Formed
2. Trade back into High/Low 3 Push Variation
3. Break Of Structure (Unless LHF Trend Trade)
4.Chart Pattern M/W/Triple Top/Bottom/Head and shoulders (1min Chart)
5. Pattern Engulfment
6. Pin Hammer
7. Time Engulfment
Is the Short Squeeze a short or a long trade?
a long trade
Is the SS a Parabolic setup?
Yes, The best SS are parabolic.
the biggest and BEST PARABOLIC SHORT SQUEEZES typically will come after Day 3 shorts are triggered into the market at the Low of week and low of the month. A setup that has Day 3 shorts in the market can potentially be a massive parabolic move.
Playbook 90
What are the entry criteria of a parabolic SS?
1.Day 3 breakout traders shorts triggered into the market.This day should / could close as a false break reversal day.
2.Creeping trend that trades back into the peak formation LOW on thesame or next day.
3.Consolidation that should engulf and give an entry in the timing window. (London, New York)
4. An entry can be taken by a close back inside, or sideways price action inside of the 20 ema in the timing window.
5.Currencies a maximum stop loss of 20 pips (or smaller.) Gold,oil, indexes can be 25.
6.Profit Target can vary from 50 pips to 250 pips or more depending on the instrument and the setup.
Playbook 93
Why does the OR matter?
Do scalable setups repeat?
When is a market OOB?
Out of balance
When a market (during the OR/IB) breaks out of this range and stay outside.
When are OTF traders in the market?
when a LOD or HOD is broken or other major level.
In essence it boils down to 2 possible setups. What are they and how does that look on the weekly template?
Monday Inside Day! What can happen?
When monday is the 4th of july and narrow?
D1, d2, d3 ascending triangle?!
The whole week?
Mon-wedn: d1-d2-d3! Is this a long setup?
Fri-mon-tue setup Short?
Is this a day 0 setup over 3 days?
Is this a mon-tue-wedn Day-0 setup?
What is an inside week?
when no previous week levels are broken.
