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Wednesday, June 16, 2010

#8-10 5MIN Reversal Pattern!!!



8-got green at 14 took the buy, trickled against me, got yellow I held feeling the indicator are usually spot on but the setup on the 5min chart was screaming down. I really felt it would get to test 14 and i would get out BE, but it broke more and kept giving me yellow so i kept holding. Finally i let go, -14 OUCH!!! And of course it came back GRRRRRRRRRRRRRRR
9-took the buy off the yellow at 95 exited 00 +4
10-again up to my little support area and shorted, took a few minutes to move down +5


On the Right you can see the HP reversal pattern that shows up on the 5min chart. I have posted this many times before. Bull candle, followed by doji or indecive candle followed by the Bear candle. The Key is the doji has formed at the top or bottom of the move. Obviously opposite at the bottom of a trend.

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