decided to try a bar signal i have been noticing on other moves. its not one of the popular/common ones that are in my books, so i will go ahead and name it for myself, but it has the usual mechanics/action as other reversals big and small. strong rally up to resistance, exhaustion gap followed by a breakdown of prior bar support. basically just a dark cloud cover but there is a gap into the trade direction instead of resistance. a bigger version of it made up of several "rally bars" followed by a gap down with a huge down bar is called a 'hole in the wall' by Alan Farley in his "the master swing trader" book.
ill call it a SOVIET ROCKET since it appears to take off well but immediately has a problem and falls to the ground.
Now that i decided its best to enter before the close of the day im not sure what i can put on watchlist videos to keep track of what i looked at.
No comments:
Post a Comment