a good place to short would have been just below the low of the test.
MTM - "any testing that does not respond immediatly with higher prices or certainly during the next day or so , can be considered an indication of weakness. If it were a true sign of strength the specialist or market maker would have stepped in and would have been buying the market."
MTM - "any testing that does not respond immediatly with higher prices or certainly during the next day or so , can be considered an indication of weakness. If it were a true sign of strength the specialist or market maker would have stepped in and would have been buying the market."
DislikedOn the left of the chart you can see a nice short set up Just after the news this morning. I did see this before leaving for work but hesitated. Kicking myself now!
The main area I wish to talk about is Trigger 2 and D. At D we see the trigger again respected and what looks like a perfect test. I was around long enough to see this phase unfold and remember thinking "If i was home now, i would definitely buy that". My thought process was that it had respected the trigger a few times and this would be the test and bounce that was needed to go long....Ignored