ADX was cruel a blow for holders. Was trying to see if there...

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    ADX was cruel a blow for holders. Was trying to see if there were any warning signs in the chart, because it's critical to avoid these nasty ones. The only thing I could see was 3 bars of strong selling (blue rectangles overhead).

    With these set ups, often there's one, sometimes two strong sell bars. I don't know if I would have paid it a lot of attention if I'd traded it. 19c was definitely the sell price, but 19c happened right that the close and holding for an open gap up would have made sense.

    Lately, many of these trades have been bouncing off the point of control (POC in yellow), and anyone who grabbed that price (16c) would have made 20%.

    edit: the volume profile was very green on the run up. More than anything, this is something to watch out for.

    https://hotcopper.com.au/data/attachments/6060/6060877-3d083507ff6dff7f196ad5618182eba5.jpg




    Last edited by float^: 26/03/24
 
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