Replies to post #47105 on "House of Pinchers" (Pinch)

[jimmenknee]

Welcome MEA_1956 :-) There are variants to a Pincher Setup-- so don't take my opinion as the required setup criteria; but here's what I look for: #msg-69560885

IMHO WRES looks to be retrying a bounce, and the good news is you have a Bullish Harami Cross Candlestick Pattern formed (although its tail is sticking out). Technically for a Pincher setup I prefer, both the RSI and PPO do not fit my criteria (I use RSI 14 below 30 and PPO 12.26.9 below -10); but you do have a resembling pattern. Also in your favor is the candle position relative to the lower Bollinger Band (not a Pincher criteria, but fits a pattern I use for lower-BB bounces).

The Pincher-type confirmation to look for at this point IMO would be for the PPO re-crossover (12 over 26) and ADX re-downturn similar to 4/24

GLTU and welcome again :-)

[pj McMulligan]

I like watching for the Trix 3 to cross from negative to positive, the 48CCI to get up over -100 line, and to see Willie start moving up off that magnetic -80 level. I usually get in pinchers that are trading above the 10DMA with at least 50K average daily volume. I also like switching the PPO indicator with Trix 15,9 or with the MACD to look for the point where divergence with the ADX line is just starting, and the "peeling" apart of the pinch has begun to occur. Good luck and happy trading to u! :)

[MEA_1956]

WRES === Well it looks like a pincher play has entered into the second stage. now we shale just have to wait and see how far it runs.