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Posts Tagged ‘123 higher high pattern’

Today was what I call the bowling alley trade.

The premarket dump turned out to be the perfect setup for the 123 lower low as the price rebounded. After a long lunch slim jim, the globex hi was taken out on the other side in the afternoon. Then the boys played the same game and caught the late buyers buying the pullback.

You can only anticipate moves like these by being in front of the computer for a number of years and seeing all the games that they play. Experience is one of the best teachers I know.

Marginal lows and high’s are a bit tricky, but the enlightened ones know how to play this game exceptionally well. Being aware of possible reversal zones and times is the key to catching these trades that change direction.

Kevin haggerty’s signal bar strategy is one of the best techniques out there day in and day out to capture these powerful ricochet moves.

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