If I was in this as a day or momentum trader, after I saw that gap up bar that failed on strong volume, I would have run away,
but even if I held on in case it was an absorption bar, when the next bar was down in response.....that was a serious sell indication for the very short term.
I mean it could still recover and work out alright overall, but as a short term trader, those two bars in combination, should send you running.
cheers
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- Weekly Charting - 20th October 2017
If I was in this as a day or momentum trader, after I saw that...
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