A mid-day low momentum three push pullback is a wedge pullback (WP) and usually is a good entry. On a trend day, this move will usually end close to the ema. On a trading range day such as today, it will usually give a three push fBO of the previous swing low (b52 broke below b27).
Often this may be a G or G2 trade as well and is usually a high probability trade given previous trend in the same direction. Often the WP makes part of a complex mid-day pullback.
cad, did you buy close of b8 on 1Rev, 2nd entry to get 6pts, can't imagine you held till afternoon BO. Thanks.
ReplyDeleteJJ, I actually entered on the close of b8 and exited near the high of b34
ReplyDeleteGreat trade, tks for clarifying. Good job.
ReplyDelete