Adam Grimes has over two decades of experience in the industry as a trader, analyst and system developer. The author of a best-selling trading book, he has traded for his own account, for a top prop firm, and spent several years at the New York Mercantile Exchange. He focuses on the intersection of quantitative analysis and discretionary trading, and has a talent for teaching and helping traders find their own way in the market.
I saw this pattern on T as well but had reservations after the gap up (albeit small) and the bar the day after that. I know we are looking for a reluctant bounce after the first big momentum against the established trend and to my novice eye it seemed perhaps more than reluctant (hard or impossible to quantify reluctant is part of the issue I suspect). In your opinion does make sense to at least attempt an entry here even though I lnow its not a textbook pattern? Thank you
Adam, really cool the new series “chart of the day”, like it. BTW I am currently doing your trading course for the second time and doing all homework etc. (sloppy last time..) and it is great experience.
The failure patter of the Anti: a trading range
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