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