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Well that was shortly lived. What a horrid bar today. [ATTACH]

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Beany72

3,285 Posts.

5

17/11/16

21:49

Post #: 20703170
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Originally posted by Jako64 ↑

Good find Beany, yes that first bar is a lovely test bar for sure, but the second was less clear (there was probably some testing intraday no doubt, and a muted response, which together made the daily bar a bit 50/50).
But whatever it was, the response the next day was very strong indeed.
1.03 is a pretty tight stop, but I understand why it needs to be like that for your trading style.
That is a good chart to target, it is in an uptrend, with the market looking supportive, and then take a lower risk entry on a low volume test type bar.
Very much like the method and style which Wyckoff became famous for.
Hope it continues on up for you, good job.

cheers

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Well that was shortly lived. What a horrid bar today.
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