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> If no ones asked yet.....what's a blackcrow ???
>
>
A few posts back, I referred to the three black crows pattern, which followed the H&S I also pointed out before that. To a day trader the highs and lows of these bars become significant when the market is probably aiming in their direction.
>From the charts attached you will see that the gap to follow opening made it odds on for an up day and the entry was either on the bounce, if you were very aggressive, or on the break as I have indicated. The target for the trade was the high of the first crow, so that a profit stop just below guaranteed putting tin in your pockets. The r/r/r was 5:1 which is a better than average trade. The original entry was before the 9.00 Report, which produced a few ticks before withdrawal, but the substantive trade was after it, and the bounce on that key support.
What might be termed a nice readable day!
Bill Eykyn
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