I’m seeing this pattern time and time again. It doesn’t guarantee it’ll play out but here’s what it looks like:
- sharp drop into support
- define range below sharp drop
- break out of range towards OB from drop
- break back into range and then...
- DUMP
Again, not guaranteed but one to watch. Expecting a slow burn up before the dump commences. Entering short at OB, may wick above, will add upon re-entering range.
- sharp drop into support
- define range below sharp drop
- break out of range towards OB from drop
- break back into range and then...
- DUMP
Again, not guaranteed but one to watch. Expecting a slow burn up before the dump commences. Entering short at OB, may wick above, will add upon re-entering range.