Notes
- The Opening Range is defined as 9:30 to 10:00 a.m.
- Post-holiday market conditions can be unpredictable, so we should give the market time to stabilize.
- Price action going into a holiday weekend can be “muddy” and “disorganized.”
- On days like these, we can expect that liquidity will decrease as the morning progresses and traders step aside for the holiday weekend.
- Lower liquidity can make it harder for the algorithm to function efficiently.
- Michael advises traders to remain calm and avoid overtrading in such conditions.
- Stacked NDOGs and NWOGs (clusters) can act as barriers to price movement in such an environment.
- When the price moves aggressively through these barriers (NDOGs and NWOGs clusters), it is a sign that the algorithm is in a hurry to reach a specific target.
- We should always check the economic calendar before starting a trading session.
NQ - Price Action Before Holiday Weekend
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