Copper showed up in the TrendCloud Scanning system this morning and we took the trade short in the live trading room.
Momentum and trend were both down across multiple timeframes according to TrendCloud.
Price pulled back to our 5 minute supply zone and took profits at $100.
Another winner trade for TrendCloud!
If you want to use a trading system that's...
ORB = Opening Range Breakout pattern
Nr4 = 4TH Candle's daily range is smaller than the previous 3 days.
*Note: The 4th day doesn’t necessarily need to be an inside day, it only needs to have its daily range smaller than the previous 3 days.
What if we told you that 40% of the time the first trading hour can tell you what is the high and the low of the day? If...
Step #1: Wait until you can spot a bar that has its daily range smaller than the previous three days
The first rule requires you to have the patience until the Nr4 pattern develops on the chart. When we have a daily trading range that is narrowed than the previous trading ranges it means that the price is contracting.
Based on our backtesting results we have found...
