Here’s Some Confirmation For A Reversal Low
Finding a Fibonacci zone and
pattern to confirm a reversal play on the daily is a high-probability trade in
my opinion. If you’re fortunate enough to
spot a second or third pattern for confirmation when drilling down the action to
the smaller time frames–then it’s time to stop looking around and trade the
opportunity at hand.
13:54:14
Extended Intraday/Daily Chart Reversal Zone Patterns
Juniper Networks (JNPR)
is putting in an extended 60-minute chart Bull Butterfly pattern–down .57 at
20.21. This action is happening within a daily chart consolidation that is
nearly a month old, and technically qualifies as a Fibonacci Bull Gartley and/or
Two-Step Pattern on that time frame–and thus confirming the smaller time frame
for potential long entries. On the 60-minute chart, triggers might be considered
on a move thru the high of the hammer low bar–set at 20.34.
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Did I happen to mention that JNPR was also a
confirmed 1,2,3 higher low on the 5-minute chart? With 3 bullish pattern lows in
play, and less than a quarter risk by focusing on either of the intraday time
frames–it’s all this cautious bull needs to pull the trigger.
Chris Tyler