We formed back to
back doji's near last week's highs. If
you didn't exit the short position at the scratch price, then I'd hold on with
the original stops @ 5533.25. If you did
exit, then I'd consider re-entering below today's doji low of 5421.00. This would be another sell trigger as prices
are still trading within my MM Fade Zone.
If prices move above 5533.00, then this pattern is void. Doji's can either be the market taking a
breather OR signs of a reversal. The
placement of these doji's, in my sell zone and near recent highs, makes it more
concerning to long positions. I'd be
cautious of holding any if we break
lower. It could be the making of a
double top pattern. Let's see how next
week shakes out.
Saturday, April 1, 2017
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