Kardec Trader breaks down a daily chart setup using the open and range. Wait for price to hit the high around 50% of the range, then either trade a reversal below the low or catch a small move after price manipulation at a key time point.
The daily chart looks like this. And then this is the daily open that we're currently in. I want to see price trade into this high, which roughly is around 50% of the range. So all I'm looking for is I'm either looking for price to trade below this low, and I can look to trade some sort of reversal that is a lot of a much more risky trade because it's fighting the overall trend, or I wait for price to manipulate at a significant time point and then I'm trading from here to here. It's just this tiny little move that I want.
