Home > Creativity, education, management, Markets > The market is in a Washout pattern here

The market is in a Washout pattern here


the entire mkt is in a Washout Pattern (WO) pattern here

meaning: 

  • there is reason to buy the mechanical entry a nickel above the hi of today
  • there is reason to buy evidence of momentum prior to the mechanical entry in order to front run it, so that u can get a better average price
  • there is reason to buy a gap down and morning hook up
  • there is reason to be cautious of gap higher opening, where we should wait for a pullback and evidence of a hook back up
  • there is NO REASON TO BELIEVE that THIS ONE IS THE BOTTOM
  • everything gets measured in terms of risk:reward and we feed the bulldog every day

mkt200903101

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