Generally I like to see clear entry signals, but sometimes I try to anticipate a move if it is offering me a low risk proposition with a solid reward.
Taking a Shot on a Spinning Top
There are many names for candlesticks and candlestick patterns. Spinning top is one of them and it is what I am seeing on the daily chart of the SPX.
After seeing the SPX gap higher three consecutive days and then create a spinning top yesterday I thought why not get short at the close of trading and put in a stop loss at the day’s high.
Basically, for
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