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Why A Swing Short below B31 on 3/23/23?
Going over yesterday's chart and comparing swing entries provided via the EOD slides, I'm curious as to why selling below B31 is noted as a good swing entry?
At that point, the market had pulled back for about 10 bars (TBTL) after a wedge top, and was in a TTR. Looking at B31 and preceding bars - some apparent selling pressure, some decent-sized bear bars closing on lows. but the market hadn't even retraced below the MA at that point, and though a bear bar, B31 was a doji.
Hence, that swing short entry, as indicated on the EOD slide, seems more a suggestion informed by retrospect rather than one that can be considered probabilistic at the moment. Broadly, context for a reversal existed - "gap down and 2 legs sideway to up" - but the market was not AIS, and no MTR pattern is evident.
If anything, short after the B34/B35 gap bars and then B38 closing in low below the MA seems warranted.
the sell that was marked blue box now is only marked red, it got changed.
I hope it's ok to ask here. I just need to clear this up:
I understand that blue box entries are better than average swing setups. Does this mean that entries not marked with a blue box can still be a swing entry? Or are they all scalp entries, or maybe a combination?
It is written below the chart markups that they are all reasonable swing entries. So, although some of these entries might be reasonable scalp entries(BOs for example), all of them are reasonable swing setups.