Tuesday, July 31, 2018 4:14:39 PM
LOL on the gold. I nibbled a few more ABX $12 Aug calls, and also picked up some GG weekly $12 calls at .12. I've spent a few hours looking over charts and setups. There is no one size fits all pattern. Too many variables for them all to do the same thing.
This is a 10 min chart, but text book. The initial reaction is usually the largest. Then, the stocks pps will often trade in a channel for a bit, then make a better sized move.
I call this the airplane on a runway pattern. It's either going to take off and fly, or crash? These patterns repeat on all time frames, it just takes longer on the daily. If you look for it? You'll see it before a lot of the major trend reversals.
This is a 10 min chart, but text book. The initial reaction is usually the largest. Then, the stocks pps will often trade in a channel for a bit, then make a better sized move.
I call this the airplane on a runway pattern. It's either going to take off and fly, or crash? These patterns repeat on all time frames, it just takes longer on the daily. If you look for it? You'll see it before a lot of the major trend reversals.
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