Continuation, T1B, 1P, XT, mW, fL2, H2, DT, DP
small trading range day
today’s DT at the HOD is at the shallowest bear TL from yesterday
The Reversal Signal Bars indicator, one of our Price Action Indicators, gave an II reversal signal pattern at the DT at the HOD.
compare today’s PA at the LOD with the PA at the 04/18 LOD, this is a classic trend termination and reversal pattern in one
un-triggered inside bar (triggered on the wrong side) becomes a trading range
then you get buyers below and sellers above
this goes on until one side wins over the other, creating an expanding triangle
daily chart
Always In Long (AIL) since 03/29
the bear stop entry short in the expanding triangle triggered
bears got reward/initial risk of one (using a bar stop), not bad
but the entry bar has a weak close, today’s bar on the index even closed above LOY