Here's a super setup with a ~70% win rate & very high R:R for Options Buyers.
Name of this setup is - FSC.
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Name of this setup is - FSC.
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Principle - The First 5/15 min candle of the day is very important. It gives a good indication of what is going to happen with that Index/stock in intraday.
One of the many types of candles is 'Strong' candle.
One of the many types of candles is 'Strong' candle.
A strong candle is the one that either has no wick or has a wick on the downside (for green candle) or on the upside (for red).
Now if this candle forms in the first 5 min of the day, it's called FSC - First Strong Candle.
Now if this candle forms in the first 5 min of the day, it's called FSC - First Strong Candle.
Entry Criteria - Enter at 9:20 am on the Stock forming FSC in 5 Min TF. Go long if FSC is bullish (wick is below), short if FSC is bearish (wick is above).
Instruments - Can go with Options, Futures or even cash. Remember this is an Intraday strategy.
Instruments - Can go with Options, Futures or even cash. Remember this is an Intraday strategy.
SL - low of FSC.
Trailing of SL - using PA-based pivots. You can use VWAP too.
Profit booking - Book half at 1:1 R:R. Keep targets open for rest with trailing SL.
This strategy has given trades even upto 10:1 R:R. But you should never forget about Risk management.
Trailing of SL - using PA-based pivots. You can use VWAP too.
Profit booking - Book half at 1:1 R:R. Keep targets open for rest with trailing SL.
This strategy has given trades even upto 10:1 R:R. But you should never forget about Risk management.
Extra Edge -
For Longs - prefer the stock with FSC at PDH (Previous day's High)
For Shorts - prefer the stock with FSC at PDL (Previous day's Low)
See the examples attached.
For Longs - prefer the stock with FSC at PDH (Previous day's High)
For Shorts - prefer the stock with FSC at PDL (Previous day's Low)
See the examples attached.
Now, there's a problem..
It's impossible to search FSC has formed in which stock exactly at 9:20.
For solving this problem I have made scanners, which give results like this.
All you need is to run them & enter that stock with proper Risk management.
It's impossible to search FSC has formed in which stock exactly at 9:20.
For solving this problem I have made scanners, which give results like this.
All you need is to run them & enter that stock with proper Risk management.
To get the Scanners just :
1. Join my Free Telegram channel t.me
2. Retweet the first tweet below.
(plz make sure you follow me
@CnceptualTrader
because X don't allow DM to non followers)
thank you.
1. Join my Free Telegram channel t.me
2. Retweet the first tweet below.
(plz make sure you follow me
@CnceptualTrader
because X don't allow DM to non followers)
thank you.
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