Exhaustion Gap + Doji + Channel
Updated
I don't really drink coffee but I might be buying a cup of JO today.
I really like price action down at these levels. As far as technical analysis goes I like heavy volume gaps that form a doji at the bottom of a channel after a down trend. I think we gap up on Monday.
I have never played this setup on an ETF so not sure how good it will work. The reason being is that setup is based on market emotion and I am not sure if emotion is as strong a factor in ETFs as with individual stocks
There are two possible ways to play this:
Setup a long stop order above todays close and wait for the gap up on Monday for your order to fill
Or enter now and if no gap up on monday exit your position.
I really like price action down at these levels. As far as technical analysis goes I like heavy volume gaps that form a doji at the bottom of a channel after a down trend. I think we gap up on Monday.
I have never played this setup on an ETF so not sure how good it will work. The reason being is that setup is based on market emotion and I am not sure if emotion is as strong a factor in ETFs as with individual stocks
There are two possible ways to play this:
Setup a long stop order above todays close and wait for the gap up on Monday for your order to fill
Or enter now and if no gap up on monday exit your position.
Trade closed manually
Got wicked into this trade but closed that same day with bearish candle...looks like a double bottom has formed will do new analysis
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