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Above scenario may be smoked:
The "W" is far from reached. Instead the price went lower than the double bottom mentioned.
So things will likely head down in the next few months.
In fact - the positive about it - is to get easier points on the shorts...
Ciao guidoisot
I see it the same - stop hunting - and then the reversal.
Thats why I took a countertrade 11-13h see above.
Is my normal Wednesday rule when things are tricky like strong range on previous day or after a gap @ open.
12033 was way up, right at the double top, when it could 50/50 continue up or retrace
what made you decide for the short?
a candle pattern? a divergence? a market profile analysis? Order flow? ...
what timeframe chart were you using for deciding?
.... if I may ask.
thx
Of course you can ask: Wednesday in my pattern system is >90% short.
Just the entry and exit times may change depending on what happened the day before
and on the IB 9:00 to 9:30.
As my rule (extended time length) did not work - I switched to my normal rule.
That went good today - but no more trades...