The action of last Friday is exhibiting a tad of strength which is the complete opposite of 28Apr which is marked '(a)' on the chart. Possibly someone can offer to detail their thoughts of how this is readable on the chart ?
28Apr #(a) showed a hint of weakness, this was confirmed the very next day with a hidden upthrust or almost a near bearish engulfing candle etc. Zoom down to the current action and if this potential sign of strength last Friday is for-filled, it may be able to rise to that DT line at #(1). Ideally a better setup is if it travelled down to and showed bullish signs (testing/2bar reversal/shakeout of that climatic action 15/16Apr) in zone #(2).
dyor
ta charts, page-19
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