/tf gapping down -- hurricane closing at 9:15
But notice -- one of the rules I created was that when trading countertrend (for a bounce), the minimum time for a base to form is ONE HOUR.
/tf bottomed at 7:30 -- tried to rise and failed.
Now, at exactly 8:30 - data came out and we see -- a HUGE tail on HUGE volume. And more importantly -- it's been 1 hour.
The market is now up 21 ticks from the low of the tail and rising.
This is a familiar, repeatable pattern. And /tf hits 804 which was my target area.
So main rule to remember -- an hour is minimum time for a bounce to occur. But still need to see long tail puke candle to mark a bottom.