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2 comments:
oonr7 - does UTIW present that 2 bar retrace scenario you mentioned earlier - I think it has been a few months since you last discussed it.
tom t: most of my charts over the past month or so feature a 2 bar pullback then enter strategy. Some I've labeled 'failed reversals' where there's a 2 bar pullback, a potential reversal bar and the my entry which closes in the opposite direction of the potential reversal bar.
As for UTIW... I think it made it on my watchlist initially but I removed because price was hanging out too long in the upper part of the :15 OR. I would consider the two bars preceeding the 2pm bar as a two bar pullback (not much) and then the 2pm bar is the reversal. However, I don't like where this is all happening and I also don't like the lower tail on the 2pm bar. I like my entry bars to be strong (for longs) or weak (for shorts).
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