These digital tulips are something else.

I often state in my videos, and have as recently as within the last week so (pretty certain I did so again within the last few days) of the benefits and my preference to use OCO (one-cancels-the-other) orders that have a buy-to-cover to close out a short trade at my (or one’s) price target(s), making sure to set the order both GTC as well as the option to “allow the order be filled outside of regular trading hours” while only allowing the stop-loss order to be filled if the stop is hit during the regular trading session. My reasons were stated in that video and today was just another long list of good examples as to why (many of my price targets are hit in the pre or post-market session).

To your second point, anything is possible but I stated my preference & reiterated that I think the bounce of T1 will most likely be relatively small in both time & price with T2 being hit soon (early next week, after the 3-day holiday weekend).

I can’t control the fact that you or any other subs here “do not trade” or more accurately, I guess for some reason, “refuse to trade??” in the pre or AH session as it is as simple as checking the box on your order to close the position (cover a short or sell a long) at your price target with the option to allow that limit order to be filled outside the regular trading session. I struggle to find a reason not to do so, including but not limited to the fact that many might not be in front of the computer when that price target is hit.

Again, I’ve harped on the benefits of OCO orders, including setting the price target closing orders to allow to be filled outside the regular trading session, probably a 100x or more over the years on a fairly regular basis. ‘Set it & forget’ it is the term I associate with OCO orders. I’ve also referred to OCO’s (aka- OCA, one-cancels-another) orders as the best invention since sliced bread when it comes to swing trading.

Thanks, much appreciated!

I’m just not feeling gold or GDX much since GDX hit T2 last Thursday. GLD is still below the mutliple sell signal on the daily chart (bearish engulfing candle, island cluster top, trendline break that I highlighted back in late April & UUP (US Dollar Index ETN) is still above the bottom of that key long-term support recently highlighted: Both keeping gold on a sell signal for now, but I just don’t have a strong read or convictions on the near-term direction as the metals, miners, & US Dollar have basically been grinding around sideways for weeks now with no clear signs where it goes next week, IMO.

I’ll try to make a point to cover the metals, miners, & US Dollar earlier next week (after Monday holiday).

Yep. That’s similar to UUP ($US Dollar ETN), UNG (nat gas ETN), USO (crude oil ETN), etc… They also track the futures which are trading around the clock so on just above any given trading day those ETNs are likely to gap up or down at the open in response to the moves that the underlying futures made overnight & into the morning since the previous day’s 4pm close on the ETNs.

Thanks for the reply….forgot about the around the clock trading.

Yes. An Island Top is a single candle separated by gaps on both sides while an Island Cluster Top is an “island” of two or more candles roughly inline separated by gaps on both sides.

While today’s (not yet confirmed until the close) potential Island Top on IBIT may prove to be technically significant, I wouldn’t give it the usual weighting that I would on an individual stock, index, or sector because IBIT is an ETF that tracks the price of Bitcoin. Both Bitcoin (the crypto) and /BRR (Bitcoin futures) trade virtually around the clock & as such, don’t have Island Tops today as the 9:30 – 4:00 trading IBIT does (i.e.- look at the daily chart & you’ll see it gaps almost every day).