Can Patterson Reach at a NR7 Bar?
Updated
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What I see...
+ Inside NR7 bar on very high vol.
+ RSI at 63
+ MACD is bullish
+ 10MA has just crossed above the 50MA about 10 sessions ago
+ Lower price stock
+ Bollinger is still relatively narrow
- 10MA is still far away
- Upper shadow today failed to form a true inside hammer
What I setup...
+ Long entry above $4
- Stop at today's low
+ Target at lo $5 range
:: Duration - 2 to 6 days
What I see...
+ Inside NR7 bar on very high vol.
+ RSI at 63
+ MACD is bullish
+ 10MA has just crossed above the 50MA about 10 sessions ago
+ Lower price stock
+ Bollinger is still relatively narrow
- 10MA is still far away
- Upper shadow today failed to form a true inside hammer
What I setup...
+ Long entry above $4
- Stop at today's low
+ Target at lo $5 range
:: Duration - 2 to 6 days
Order cancelled
Setup failed to trigger; cancelled trade
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