A very very important set-up that I believe stock traders over the world are talking about how to deal with this daily hammer. For me, quite simple that it's almost a perfect combination. Whatever the result is, this set-up definitely worth some long trades! Breakout, pullback, intraday momentum trades, and etc...
Also I'll take this perspective into individual stocks to look for buy-low opportunities!
Let's see how it goes!
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Pull back mode, pay attention to the 0.618 spot @ 2715 yo
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while, in terms of pullback, price action uses 50% and Fib uses 0.618 to trade a hammer, In this case, those price action guys already get on the train but not yet the fibs lol.
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the bulls tried twice (50% of the pin / intraday bullish harmonic patterns) both could be successful trades and then made a new low to break the hammer.
Turning bearish until a clear bullish reversal sign yo!
@thelion01, indeed, this idea came to an end when it made a lower low~
thelion01
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@Trader_Joe_Lee, is okay there is no right or wrong. Mkt can do what they want we just have to be prepared of that. Hope we will hold the February low and bounce from there. Otherwisekt maybe in trouble.
kvangala
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Thank you Trader_Joe_Lee, what other individual stocks do you recommend for buy-low opportunities?
Trader_Joe_Lee
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@kvangala, kinda like this SQ bullish bat set-up ~