No sharp rebound in the next couple of bars then today has chances being a downtrend day. Key time. I doubt though. Probably it's the time to rebound.
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Very first test of EMA20 in a long time, watch for sell setup. The rebound could mean it's just a range day.
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Revisit the day low, 50% chances of double bottom.
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Will share with the fine people on this awesome board my custom indicator (bottom row) that i've been using to make big swing trades of my portfolio... on the daily, it is the most effective in signaling directional changes... so today, it has risen, and still is rising - once it moves back down and makes that inverted "v" top, the trend move is confirmed.
The higher it goes, the bigger the swing. The yellow horizontal line is my trigger for a "big one" based on backtesting the data two decades.
I've highlighted in violet previous directional turns where I made big swing trades.
Note it signal directional change - I trade up or down based on the signal.
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Last edited by BullTart on Fri May 29, 2020 12:55 pm, edited 1 time in total.