Was averaging down the 5 calls here but I wasn't sure enough to take big size. Didn't really go up by that much. .15-.60. The time value kept it at .15 which was a pity since they were monthlies. Commented on NFLX Cup & Handle. That one went crazy!
Was a very clean C&H chart. There was a huge bull candle to make the cup with no obvious catalyst on that day something was brewing. Might've been some tutes or insiders predicted squid games to be a huge hit.
Have you backtested the "inverted hammer" patterns occurring in uptrends as part of a pullback price action that then pushes prices upwards again versus occurring in downtrends as part of a a trend reversal signal ? Also, if you don't use it as a trade signal...what about using it as a s/r level to tell you to look for another trade signal inside of the s/r level ? wrbtrader
It doesn't occur often enough for me to pay attention it. I am not even certain how reliable this is in downtrends.
Candlestick Patterns Hammer, Hanging Man, Inverted Hammer - https://www.elitetrader.com/et/thre...st-right-here-baby.335635/page-5#post-4925440