Our ideal reversal is "V" shaped, we don't get many of those, but a gap up in the morning in even better and we would have the overnight session to put the process in.
Wednesday, June 5, 2013
Quick Screen Captures on the INV H&S
This is what the price pattern looked like at 2:05 just after the Beige Book came out, this I didn't like...
Whether it's a real Inverse H&S or not (volume confirms), it doesn't matter because retail never confirms them with volume so they would take it as a threat to their shorts and cover here without causing too much of a mess.
This is what it looks like now, which believe it or not, I actually prefer, now it looks like a failed pattern, it emboldens the shorts.
Our ideal reversal is "V" shaped, we don't get many of those, but a gap up in the morning in even better and we would have the overnight session to put the process in.
What is important is that signals like this stay strong. (SPY)
Our ideal reversal is "V" shaped, we don't get many of those, but a gap up in the morning in even better and we would have the overnight session to put the process in.
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