Preparing charts before the open
A short pre-open routine we recommend to mentorship clients who trade the ASX cash session.
Candlestick pattern reading fails most often when traders invent stories after the open instead of preparing levels beforehand. This is the routine we hand to mentorship clients who trade Australian equities.
Night before
Mark prior day high, low, and close. Note any doji or wide-range bar into the close. Write one sentence: “I will only engage if price revisits ___.”
Thirty minutes before the bell
Check overseas leads without rewriting your plan. Review whether overnight futures already fulfilled a pattern you expected to trade. If the move already happened, sit out rather than chase a late engulfing candle.
After the first thirty minutes
Many false morning stars print in the opening auction. We ask clients to wait for the first half-hour’s range before naming multi-candle structures that began at 10:00.
Bring this routine to a chart review if you want it pressure-tested against your watchlist.