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Bullish & Bearish Sucker Move Detector - Bilalian77
How to understand the Impulsive Sucker move:
Pre Req: Stock should be in a clear uptrend and above 50MA on the daily chart.
Price should drop with 3-5 big red candles in a direction early in the morning, these candles are institutional manipulation candles. They happen with in first 20-30 minutes of the market open.
Price should be at or near a support level with previous liquidity bounce (this can be a previous day low, pre market low, previous day close or previous day high.
The last candle in this move can be a big red candle with Large volume compared to the previous candles.
The next candle will be a green candle (either TOWER candle aka ENGULFING or a JOHN WICK candle aka dragon fly) with SMALL volume than the previous candle.
This is a confirmed reversal signal.
Enter at the head of John Wick candle, stoploss below the John wick candle.
Profit target will be 9EMA retest, VWAP retest or 50% retracement of the Red candle moves.
Options should be at the money 7-14 days out.
Pre Req: Stock should be in a clear uptrend and above 50MA on the daily chart.
Price should drop with 3-5 big red candles in a direction early in the morning, these candles are institutional manipulation candles. They happen with in first 20-30 minutes of the market open.
Price should be at or near a support level with previous liquidity bounce (this can be a previous day low, pre market low, previous day close or previous day high.
The last candle in this move can be a big red candle with Large volume compared to the previous candles.
The next candle will be a green candle (either TOWER candle aka ENGULFING or a JOHN WICK candle aka dragon fly) with SMALL volume than the previous candle.
This is a confirmed reversal signal.
Enter at the head of John Wick candle, stoploss below the John wick candle.
Profit target will be 9EMA retest, VWAP retest or 50% retracement of the Red candle moves.
Options should be at the money 7-14 days out.
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