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A Sucker Might Long
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🐻 101 Smart Ways to Lose Money on SPY #2: Identifying Bearish Bullishness
One thing I always keep in mind is the speed and specificity of candles that come during a drop to know if it’s
a) a backtest or gap close or other mechanical move or
b) a consequential break in structure
When we said that holding the low was bullish the other day, it looked just plain ol dumb because then we dropped hard over last night’s extended session. But then today was a trampoline…why?
White circles are a low that was set, and us bouncing it yesterday. So then bears tried to get active overnight and push us into a deeper sell…but the only problem is…BULLS HELD THE LOW.
If they slam candles and they have a stop point that’s a low, a gap, or a monthly, it’s mechanical.
