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Oct 17 trend

  • Writer: The RIGHT Trade
    The RIGHT Trade
  • Oct 6
  • 1 min read

Updated: Oct 17

ree

Oct 14

The market opened down 500 from the close on the 13th. The first move is a test down. You have a down bar, up bar combo, and then the market trades up.

Brooks describes a high likelihood that down up combo large bars can trade higher. A good trade here would have been to go long above the first bar high on a stop. You might choose to exit after the bar closed at the moving average. Once the next bar close above the average you could re enter, or do so after the pullback to the average and certainly after the next very bullish bar.

Exit would be at the multiple doji bars above moving average. Doji bars are a trading range and there is indecision.

 
 
 

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