A Candle Pattern That Tends Not To Fill
This is just an observation, (and nothing more), but the Daily Paired Candle Pattern that I have marked with an arrow is a Combination Pair that tends not to fill.
I have marked it on the DJI (as I am trading the US30 with a short position from 28, 868 which I opened on the 10th of January 2020) but this pattern is also evident on the SPX, (perhaps even more so). (The US30, being continuous, does not show any gaps and thus, in turn, these types of candle patterns are non-existent).
This pattern occurred on the 3/4th of December 2019 at 27,500 and I feel that this will be the floor of the maximum pullback of the US Indices as they exert Reversion To The Mean.
As of the 28th of January, 2020, I feel that the turn is still not in and that this value will be tested before a rally ensues.
I have marked it on the DJI (as I am trading the US30 with a short position from 28, 868 which I opened on the 10th of January 2020) but this pattern is also evident on the SPX, (perhaps even more so). (The US30, being continuous, does not show any gaps and thus, in turn, these types of candle patterns are non-existent).
This pattern occurred on the 3/4th of December 2019 at 27,500 and I feel that this will be the floor of the maximum pullback of the US Indices as they exert Reversion To The Mean.
As of the 28th of January, 2020, I feel that the turn is still not in and that this value will be tested before a rally ensues.
Trade closed manually:
I closed the 28,686 short at 28,323 on the 3rd of Feb 2020 on news that China is pumping $175Billion at their open on Monday.
The trade made 544.6 points
The trade made 544.6 points
prnt.sc/r6fds2