after dropping -- uvol-dvol and adv-dec break upward and the 5 min TL breaks as well - allowing a long attempt that is good.
price moves back to the original short area.
Again -- we are looking for the symmetry of TL formation -- go with the line as long as the internals are also moving the same way.
End of day a crazy drop but the 5 min TL had broken and even started to form a 3 touch right before the plummet.
This chart is just the morning bounce trade -- when I'm using 1 min candles still -- noticed the internals turn up and then the TL broke and made a small double bottom.
|/tf: 1 min candles for the first 90 min.|
I am using 1 min. candles for the first 90 min -- easier to see. After that, 1 min. candles create too much noise -- and 5 min. candles are better - even if they feel like you can't see the details.
|/tf opex Friday, end of qtr craziness|