Cryptotheplanet

Wednesday has a few distinct characteristics. Every day of the week has its own patterns. Crude oil tends to rise on Wednesdays because the EIA data is more likely to be bullish. The first few minutes after Wednesday's open also tend to see a rally because VIX options expire, causing the VIX to fall, after which calls are repurchased within minutes to hedge equities. This mechanism makes it especially likely that after a strong rally on Monday and Tuesday, the market will pop slightly in the first five minutes after the open, sweep the premarket high, and then immediately reverse lower. It will then trade lower in a choppy fashion intraday before finishing higher by the close. Of course, things can be slightly different on FOMC days, with other scenarios playing out. For example, as I mentioned before, the market sometimes rallies into the FOMC meeting despite heavy put positioning, only to sell off once the meeting begins. However, you also need to consider whether the market has already rallied premarket to a level where market makers are hedging by selling. If the market has already reached that level before the FOMC announcement, it is more likely to sell off after the open. Tuesday has its own characteristic too. It tends to see larger moves, so chasing longs or shorts on Tuesday can both work well. Tuesday is generally bullish. I'll cover the characteristics of the other days later. I'll share more details as well. Feels like I'm about to reveal the whole playbook here, since this kind of knowledge isn't as widely discussed as PA or ICT lol