#1 Question I get Asked
How do you mark your Pre-Market High (PMH) and Pre-Market Low (PML)
Lets answer that question π§΅
How do you mark your Pre-Market High (PMH) and Pre-Market Low (PML)
Lets answer that question π§΅
1/ Different Market Sessions
There is 2 market session
1. After Hours: 4pm-8pm EST
2. Pre Market: 4am-9:30am EST
We cannot trade options for the most part during these times, $SPX trades until 4:15 fyi.
There is 2 market session
1. After Hours: 4pm-8pm EST
2. Pre Market: 4am-9:30am EST
We cannot trade options for the most part during these times, $SPX trades until 4:15 fyi.
2/ After Hours
This occurs After the market closes therefore it is called After Hours or AH. See chart below. During this time news come out like earnings or headlines.
This occurs After the market closes therefore it is called After Hours or AH. See chart below. During this time news come out like earnings or headlines.
3/ Pre Market
This occurs Before the market open and is the open drive of the market and normally determines the direction for the day. Trader's focus here as there's higher volume here from the London session. Notice how we didn't break it today therefore no bullish momentum.
This occurs Before the market open and is the open drive of the market and normally determines the direction for the day. Trader's focus here as there's higher volume here from the London session. Notice how we didn't break it today therefore no bullish momentum.
4/ Pre Market High
Based on the above this is HIGH of the premarket session. We mark this every single morning because if this breaks the momentum is in the bulls favor.
Based on the above this is HIGH of the premarket session. We mark this every single morning because if this breaks the momentum is in the bulls favor.
5/ Pre Market Low
Based on the above this is the LOW of the premarket session. We mark this every morning because if the low breaks the momentum is in the bears favor. Notice the follow through once the pre market low breaks.
Based on the above this is the LOW of the premarket session. We mark this every morning because if the low breaks the momentum is in the bears favor. Notice the follow through once the pre market low breaks.
6/ Phantom Wicks
Depending on your brokerage you will see random wicks in the PM (webull.) These are not real wicks as there's low volume PM. Focus on where price is clearly basing that is the low not the random wick.
Depending on your brokerage you will see random wicks in the PM (webull.) These are not real wicks as there's low volume PM. Focus on where price is clearly basing that is the low not the random wick.
7) After hour Lows
Sometimes price will make a low AH. This is important but it does not represent the momentum during the Premarket this can be used as price target when the PM lows. If there is ER this can be used as a new candle low.
Sometimes price will make a low AH. This is important but it does not represent the momentum during the Premarket this can be used as price target when the PM lows. If there is ER this can be used as a new candle low.
8) How do I draw PMH/PML on Webull Automatically?
You can't you have to manually mark these every single morning but this can be annoying an a time waster so I use TradingView and have a custom script that marks it for me. This helps my charts stay clean day to day.
You can't you have to manually mark these every single morning but this can be annoying an a time waster so I use TradingView and have a custom script that marks it for me. This helps my charts stay clean day to day.
9) How to use these levels to trade?
If a stock breaks:
PMH = Long
PMH + PDH = Mega Long
PML = Short
PML + PDL =Mega Short
Levels don't break = no trades
If a stock breaks:
PMH = Long
PMH + PDH = Mega Long
PML = Short
PML + PDL =Mega Short
Levels don't break = no trades
10/ Found this thread helpful?
Check out my IG where I have 2 hours of free trade recaps you can watch and learn exactly how I trade: instagram.com/ellydtrades
Check out my IG where I have 2 hours of free trade recaps you can watch and learn exactly how I trade: instagram.com/ellydtrades
5/ Pre Market Low
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