I like to say it can.
Take a look at the daily $DDD chart below:
It has a higher high and high low yesterday even though the bar was a red bar (close below open). Today is an inside bar but a green bar nevertheless. We have a divergence from the momentum indicator favoring an upside possibility. I bought a starter position with a stop below yesterday low just in case. I consider this a low risk trade.
Below weekly chart shows a current green weekly bar near the 61% Fib retracement support level. Let’s see if the support hold.
My 2 cents.
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looks too tempting, which is why I believe it’s a trap.
RETARD: learn how to post front page pics. It’s right there on the word press dshboard.
Hence the close stop below yesterday low. Any tempting bottom-fishing near a fib or any support level is worth taking a bet.
Thanks for the input.
And yes, I’ve a habit in forgetting about the front page picture… thanks for reminding; I’ll remember next time..
Cheers!