looking to be a nice bat pattern setup. There was an immediate reaction at the completion of the pattern. Now I am awaiting an entry with a double top. Once market comes up I will look on my rsi for divergence target 1 is 38.2 target 2 is 61.8
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price again rejected awaiting 4 hr close for entry
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market came into close of first top and created divergence 4 mins until close I plan to enter for sell however you could always wait for another re-test of previous top close
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now would probably be the best entry
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been about 3 days in this trade if you did open an order some may want to close it really did not get a big move to downside...I will be holding mine and seeing it to the end
hello...so you always wait for a double top to enter at point D?
brww03
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@Addington, could be a number of confirmations double top is my favorite to wait for personally. That type of mindset however is a very conservative method. Other types of confirmations that I use are engulfing candles, evening star patterns, and for me the market always has to be oversold on my rsi for me to even consider an entry. :)