Hello Traders!
We know that these markets are not random and have an algorithmic structure to them.
Sunday Opening Price is important to keep in mind when day trading or swing trading.
Each new trading week the market will reset its oversold and overbought levels.
S.O.P (Sunday opening price) allows us to see those levels WITHOUT INDICATORS!
Anything above S.O.P is premium (overbought) and anything below is discount (oversold).
When bullish we are seeking buying opportunities under S.O.P.
Mon., Tue., and Wed is typically going to give you the low of the week.
Thursday is typically going to give you the high of the week then give a mid-week reversal.
Friday can also pose to give the high of the week or follow Thursdays reversal trend.
The same can be said when in bearish conditions, just vice versa.
We know that these markets are not random and have an algorithmic structure to them.
Sunday Opening Price is important to keep in mind when day trading or swing trading.
Each new trading week the market will reset its oversold and overbought levels.
S.O.P (Sunday opening price) allows us to see those levels WITHOUT INDICATORS!
Anything above S.O.P is premium (overbought) and anything below is discount (oversold).
When bullish we are seeking buying opportunities under S.O.P.
Mon., Tue., and Wed is typically going to give you the low of the week.
Thursday is typically going to give you the high of the week then give a mid-week reversal.
Friday can also pose to give the high of the week or follow Thursdays reversal trend.
The same can be said when in bearish conditions, just vice versa.
