Here’s a super setup with a ~70% win rate & very high R:R for Options Traders.
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.
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. <div class='jekyll-twitter-plugin'><p>There was a ‘Not Found’ error fetching URL: ‘https://twitter.com/CnceptualTrader/status/1560568754240643073/photo/1’</p></div>
Entry Criteria - Enter at 9:20 am on the Stock forming FSC in 5 Min TF. Go long if FSC is green, short if FSC is Red.
Instruments - Can go with Options, Futures or even cash. Remember this is an Intraday strategy. <div class='jekyll-twitter-plugin'><p>There was a ‘Not Found’ error fetching URL: ‘https://twitter.com/CnceptualTrader/status/1560568791007956992/photo/1’</p></div>
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.
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.
Now, there’s a problem.. <div class='jekyll-twitter-plugin'><p>There was a ‘Not Found’ error fetching URL: ‘https://twitter.com/CnceptualTrader/status/1560568829880696832/photo/1’</p></div>
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.
Want to get them? Simple…
@CnceptualTrader @threadreaderapp unroll