Quick intra-day post here…
The Power Of The First Candle(s)
Cool chart dude….so…
Look at what I drew arrows to; Those are bullish candles, right before open and after open.
Bottom line is this; until volume eclipses the nature of those initial candles, the stock is going to move in that direction. Even if it fades on lower volume, until the large opening volume bars eclipse the volume there…the stock short (for intra-day purposes) be considered as maintaining the trend of the first candle (or candles, depending on your timeframe).
More on that later, it’s intra-day so I have some trading to do.
Hop aboard the new room when you get a chance…most sections are free, including a heat map, Unusual Options Activity, Economic Data Calendars and more. Sign up over here.
Cheers,
dros
[…] you read my article on the “First Candle Indicator‘, you should notice something off the […]