SU formed a bearish inverted C&H at the half dollar base. I used the entry bar as the stop because I wasn't interested in staying in the trade if it didn't take off immediately. The entry bar is hammer-like so if it
gets taken out, there's a good chance of a reversal. I exited after three
WRBs and held the balance to the target 100% Fib. extension of the
ORH to the base.
POT formed
symmetrical triangle after early weakness. I always assume that
symmetrical triangles are continuation patterns. Price actually broke out to the upside but quickly reversed (head fake) and broke to the downside as planned. Because of the
WRB, I used the inverted hammer on the 5 min. as my stop. Exit after 3
WRBs.
SU formed a bearish inverted C&H at the half dollar base. I used the entry bar as the stop because I wasn't interested in staying in the trade if it didn't take off immediately. The entry bar is hammer-like so if it gets taken out, there's a good chance of a reversal. I exited after three WRBs and held the balance to the target 100% Fib. extension of the ORH to the base.
POT formed symmetrical triangle after early weakness. I always assume that symmetrical triangles are continuation patterns. Price actually broke out to the upside but quickly reversed (head fake) and broke to the downside as planned. Because of the WRB, I used the inverted hammer on the 5 min. as my stop. Exit after 3 WRBs.
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