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Zeon-
If you are wrong to go long, I'll grab the other oar in the boat and row with you. Just looking at the last six bars on the chart. Looks as if you have a Wide Spread Down bar (Hidden Potential Selling)
You then have climactic action on the next couple bars (look at that volume)
You now have (as the dust settles) higher lows (pro $ buying on the lows on decreasing volume)
The only caveat is this, LOOK OUT FOR A SHAKEOUT at the end of these smaller bars. Very likely to see a thrust downward into the territory of the Climax Bar and then shoot upward!
Sledge
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It looks like that was exactly what happened, another shake-out and then up went price. But at least price went up, which gives me some consolation...
My target would be the next resistance level. After two "selling climaxes" during the day, surely the pro's have been buying at the low prices and are ready for the mark-up?
Unfortunately as I'm typing this, price has just come down again, approaching the entry-point hmm.