Should the opening candles be read as part of the pre-market pattern, or as their own individual trend? E.g. If premarket was going down, and opening candles up, I'm looking at a pullback for short. If opening candles are their own thing, I'm looking at a long. Is this CVS move up from 9:45 an indication of upward pressure, or just a pullback for the pre-market movement down?
Risepoint1879, Here is a today's intraday chart. the light blue section is premarket. There is not much of a difference. When you wake up in the morning and see your chart, look for opportunities to make money. ALL the bars from premarket to after market opens matters. It tells you where buy and selling occured.
Risepoint1879, Yes, the bar at 9:45am is buying pressure, and if you wanted to sell on pullback, just sell the close of that bar at 9:45am. The opening candle is not its own thing, it's just a candle. Normally opening candle has lots of volume, but treat it as another candle. If you wanted to join the short trend on CVS this morning, I see nothing wrong with selling the bullish candle, and waiting for more selling. IMO just forget about the premarket stuff and treat it as just candles. Use all the candles in the premarket to make an informed decision after the bell rings after 9:30.
you should consider the movement in the open as an extension of the pre-market movement and figure reversals or other trends in relates to the pre-market fractals. like the photo shows, pre-market can tell you if a support or a resistance that happen there will stay in regular hours.
To the OP, whatever support or resistance you see in pre market consider using it in the regular session or evaluate it .
I think you get some right ideas here but that's still not enough to predict the intraday high and low. Keep it up