This has been on my temp. watchlist after Stewie posted on his blog sometime ago. The stock has been strong recently. Today, it was a little weak. The 2nd and the 3rd bar were inside bar within a WRB but within PDR. I was expecting price to break PDL but it retraced to meet the sloping 20 EMA. 10th bar was a NR7 and an inside bar. Entered short there.
FCX gapped down below PDL. 2, 3 & 4th bar retraced to meet the sloping 5 EMA and 5-day EMA which provided resistance. 4th, 5th, 6th bar were bearish and NRBs. I missed this entry. I noticed FCX on the 8th bar when it formed a very narrow NR7 right after a WRB. Shorted when price took out the low of the NR7.
1st candle forms a big lower tail. Next 7 candles are NRBs. 7th, 8th, 9th are inside bars and bearish. Entered short there.
TNA setup very similar to the FCX trade above. Price moves to 5 EMA, finds resistance, forms bearish candles.
FCX gapped down below PDL. 2, 3 & 4th bar retraced to meet the sloping 5 EMA and 5-day EMA which provided resistance. 4th, 5th, 6th bar were bearish and NRBs. I missed this entry. I noticed FCX on the 8th bar when it formed a very narrow NR7 right after a WRB. Shorted when price took out the low of the NR7.
1st candle forms a big lower tail. Next 7 candles are NRBs. 7th, 8th, 9th are inside bars and bearish. Entered short there.
TNA setup very similar to the FCX trade above. Price moves to 5 EMA, finds resistance, forms bearish candles.
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