I am looking for the second leg of the M with a doji to make a second poke at the highs before it sells back down to 44,340. After which it will grind higher back up to the highs but not break them.
There are two trade opportunities I can see today. The sell off the exhaustion high and the Long back up off support. Both 3 to 1s.
The first 15 minute bar of the day is a text book exhaustion bar. Now to confirm it, it must have little to no follow through followed by a doji or engulfment.
There are two trade opportunities I can see today. The sell off the exhaustion high and the Long back up off support. Both 3 to 1s.
The first 15 minute bar of the day is a text book exhaustion bar. Now to confirm it, it must have little to no follow through followed by a doji or engulfment.
Trade active
So far setup is acting as planned. Little to no follow through and is on the first leg of the M. Now to keep waiting for the second leg up.Order cancelled
this was the exact type of setup I was looking for. The same as October 30th. A pop up, M top and sell.Note
Here is another example of what type of setup I was looking for. This is a play that the Dow likes to do.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.