We got an outside reversal day,within a cycle period,at resistance,so the 3 ingredients for reversal are present time,price and pattern.We need to take out the trendline and 10 dma.The Russell was much weaker and seems to be leading down,with the Transports.Ftse also sustained technical damage yesterday.
Umm it wasn't an "outside" reversal day. It was just an outside day.
ReplyDeleteOS reversal is a higher open than previous day high and a lower close than previous days low.
Still a significant day nonetheless.
thks was it a key reversal then ? need to brush up on that...should just have said bearish engulfing candle lol
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