"Snipe and Go"
How long do you need to sit in front of the computer to trade? That depends on YOU actually.
For us sniper traders, we want it to be short and sharp.
Before rate hike was release last night, Nikkei has dropped to a low of 19,715 (which is also the major support zone. It formed a Spring reversal signal at around 11pm and bring the price up to our target.
We do not interpret the news like most analyst do, we just need to know that there is a major news release at a certain time, take note of that timing, pull out our orders in case it spike the wrong way. We always encourage sniper trades to trade after the data/news release.
Since we have all our levels ready, it is easier for us to make decision.
Nikkei open the earliest at 7:30am, 2 of our indicators showing that price is supporting at 19,770, a buy signal appeared as well. 3 stars aligned.
Price traded to profit zone, all done before 8:30am (within an hour from market opening). Where is the profit zone? You may asked.
First, market gap down, closing the gap is one profit zone. PAPLine R1 & R2 is another profit zone. Do remember, this must be pre-plan. Exit is as important as your entries.
It's time to switch over to SiMSCI, this market open at 8:30am.
We have all the S/R lines in our chart, this morning market open at S/R = 379.7, formed a Bearish sell signal and reached the next S/R (target profit zone) 357.9 at around 9:17am.
This is how much time needed for sniper traders.
See you & have a nice day.