T-Rex pattern ( 2 hrly) - sleeping alligator series of patterns

This pattern again uses pattern / volume profile for a slight edge...

1. condition 1 : market corrects strongly then 'false break out SPIKE lower forming ' Hind-legs' of T -Rex
2. Condition 2 : there is a double top ' bear flag that fails to go down and breaks upwards instead ...but this also fails forming T-Rex body and head;
The idea here is that Short trading position have been re-engaged due to failed bull breakout but this is a trap also due to high volume zone below acting as strong support / defensive zone VPOC. Also there is now a strong bullish pattern of a double bottom above a spike below.

3.The three levels of daily VPOC's should correspond fairly well horizontally forming 3 levels
4. The visible rangeof price containing the whole body of T-Rex OR LARGER VPOC ( red line ) is the best lowest price for buying as most traded price
5. buy when head formed and correcting off new highs and buy between the upper daily VPOC line ( eye of Trex) and the RED LINE VPOC.
6. Stop loss should be just under lowest daily VPOC's ( about 2-3 atr)
7. Target should be > at 4 atr.
note :This is my development pattern, not from 'Streetsmarts' book and is highly experimental !!!!

Pesanan dibatalkan:

after a slight drawdown, decided to kill trade at break even