@R3negade - truth be told there is no indication prior to the move to tell me it's going to trap. Only once it reclaimed the $21.50 support could I then get some confidence in taking long positions having seen the trap play out.
@R3negade - one note to keep in mind is that if you did short at the point and you then see it spike down hard like it did, let that be a sign to you that something may not be right and maybe make a move to cover what profit you have or take a minimized loss.
@DildoBeggins - sure, yes some are lower, but it doesn't take away from the effectiveness of the pattern or signal. Entering and exiting with larger positions could make them a little more challenging, but then scaling in or out would be ideal.
@R3negade - truth be told there is no indication prior to the move to tell me it's going to trap. Only once it reclaimed the $21.50 support could I then get some confidence in taking long positions having seen the trap play out.
@R3negade - one note to keep in mind is that if you did short at the point and you then see it spike down hard like it did, let that be a sign to you that something may not be right and maybe make a move to cover what profit you have or take a minimized loss.
most of these the volume is really low ma man. or no ?
@DildoBeggins - sure, yes some are lower, but it doesn't take away from the effectiveness of the pattern or signal. Entering and exiting with larger positions could make them a little more challenging, but then scaling in or out would be ideal.
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