Take advantage when market rest
Most of the time, when market made an extended move beyond JG's PAPLines, a good trade opportunity is happening soon.
For Taiwan, price has:
1) Extended move beyond PAPLine-S3
2) Traded below Land with ABN (to be covered in Sniper's course)
3) Traded to EXTN FIB support level (to be covered in Sniper's course)
This morning, a chart pattern formed.
The "HM" formed the Head at EXTN Fib level on opening -- 8:45am. Follow by forming the right shoulder at 9:06am.
To be consistent with my pairing position sizing, patterns are having 25 lots.
29 tics profit x 25 lots = USD 7,250
As a sniper, patience to wait for the "right" moment for entry is utmost IMPORTANT!
Let's move on to Nikkei 225. Today is Japan holiday, volume is thin and movements are slow. Nevertheless, it is having the same fate as Taiwan for yesterday's movement.
It traded beyond JG's PAPLine-S3, but too bad, there isn't a EXTN Fib for Nikkei.
So for Nikkei, we only can see:
1) Extended move beyond PAPLine-S3
2) Traded below Land with ABN (to be covered in Sniper's course)
Therefore, it is not as straight forward as Taiwan that we can ACT on market opening. We have to patiently wait for price to stop and provide buy signal on current day's PAPLine to ACT!
