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Hi all: Here is Al's EOD chart from Wednesday 4/24 of this past week. I caught none of that bull buy vacuum test of the open in the middle of the day. I was waiting for some semblance of a right shoulder for an inverse head and shoulders to buy and anchor a trade to and I didn't see one form. These type of reversals that are more "V" bottom looking or upside down "V" top always seem to give me problems. Is there a way to know that a buy vacuum or sell vacuum test is occuring before its over? It kind of seems obvious after the fact but while its occurring its not so obvious to me?
Thanks!
Dave
Hi David,
Could it be that when strong micro bull channel closes all the gaps on the way up toward the price open ... that might mean the vacuum test?
I don't know Mike. I don't pay attention to body gaps in my trading. Double wedge down should get 2T up. 3 gets you 2 pattern normally unless a failed wedge so I was looking for that PB for the right shoulder and the buy which is what normally happens. I guess this was just a low probability event where it didn't really form this time. At least I didn't lose money, just didn't take any in that whole run.
