ANF from the gapper scan. Ambush on the first retracement and MA convergence on the second. It's very important that the second retracement be shallower than the first.
POT carved out a huge cup and handle, but the target was a gap fill. Normally, we expect a C&H pattern to deliver a 100% extension, but not if breaks out in slow motion with only a slight uptick in volume. I shorted the lower high after the gap fill, for a small move into the close.
2 comments:
Wow, really impressive pinpoint entries on ANF. Any insight on ANF 8/15 ?
GT,
7/15 is better - that's where price meets the downsloping 5 period ema and that's where the ambush trade triggers. But it's hard to short after WR green bar (15 min.), so that's why I like looking at multiple timeframes.
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