2/24/21 Current Signals xMM/o1>c3

The late day strength improved the FF5s signal to xMM which oddly has not happened in the last 36 days. It was profitable in the its 3 appearances during the prior 36 day period. o0 strengthened into o1. I forgot to mention in my article and last night that o1 can morph into c1 or c3. c3 is not good OC. We knew only these two possibilities existed at the close yesterday. c3 should be interpreted as advice to consider shedding additional size taken on yesterday.

The algorithm does business at the open and close because it knows the precise price there. A human following the algorithm manually can try to do that; the trading sages insist that is correct. I disagree.

The 9:30-10:00 candle is bullish at the close because of the long bottoming tail. The bottom looks like the low of the day (LOD). The bottom of the body also looks important after the 10-10:30 candle forms. It was possible to buy when the low gets tested early yesterday afternoon. Easier said than done and far from a sure thing.

If you know that you want to be long at the close, it is OK to do it at a point that is earlier or later. It isn’t the most interesting thing in the world to watch these things all day. A 30 minute chart is useful because it’s possible to keep an eye on it without it becoming too distracting.

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