Question here, one of the last posts before I open a blog - promise.
Support drawn = pink line.
Price is breaking below support, volume retraces on the way back up and forms an upthrust. I shorted (bar in yellow rectangle)! The volume seemed okay and the bar closed off the highs, suggesting supply is coming into the market.
This is kind of my problem, despite how much time I spend analyzing the market in real time I'm often confronted with something that happens that's not "according to plan".
Sorry for the crappy chart, Bigcharts doesn't show premarket data.
A similar situation is visible on the Nasdaq.
Got me here