For those who follow the markets with similar TA, looking back to 04Dec, on that day its closed on its butt with lowish volume and a narrow spread,
so nothing was really given away, but no worries cause no low risker was anywhere in sight.
But then over the next few days we had some nice action and the setup that appeared was imo 'perfect'.
Note how the following bars, their character began to change.
They all started to show signs of demand, by closing up off their lows, which is a nice clue.
Combine the spread of the bars, plus their closing action with what the volume is saying, and it certainly started to sparkle.
1. wait for a similar setup to show 2. dont catch falling knifes, the threads are littered with so called 'failed' heros 3. look in mirror if you do and say three times, I like to gamble with my hard earned savings ... 4. take entry on that narrow little sucker, last yellow one in formation, narrowest, smallest volume, with strength in background 5. or, take the entry as/if it rises higher than that one.
LYC Price at posting:
60.0¢ Sentiment: None Disclosure: Not Held
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