Tuesday was a Larry Williams Oops pattern day – or Bullish Engulfing if you’re into Japanese Candlestick patterns. After Monday which was a No Supply and Spinning Top Doji pattern day.
Blah, blah, blah. We traders have a name (or two) for pretty much everything. Like the Eskimos and their snow.
What I saw was blow off activity on Tuesday as stops got hit all the way up. It really got going after 1,065 and we’re now at 1,085 in the overnight session.
Me I’m not buying it – waiting to short into the Pull Back on the 13,500 tick chart and then reversing into the End of Trend signal. Let’s see if it plays out.
Good luck with your Emini trading.