Thanks for your input palinuro. Correct that a spike bar has other important attributes, including context. Very true also what you say about 'move-ending' configurations but what I'm thinking is that again, in context, there are combinations of pace, volatility and price velocity which can facilitate correct anticipation. lj Edit: Like that 12:35 ES 5 min bar. High pace, high volatility and high price velocity = something. Ah. Just as I thought - a dragonfly doji followed by another almost a bozu.
I missed it too the first go around . The double bottoms that are reverse pennants are like taping to an outside bar.
Entered a short trade on March 23, 2009 for SNX. Symbol: SNX Upper Band = 192,295 Average DU = 128,317 Lower Band = 64,338 FRV = 384,950 Peak = 769,900 384,455 end of day volume then three days later gap up potential 14 percent loss despite the stops got creamed. Any suggestions on alternate exit strategies?