INDTRADAY DR REEDYS
The best time to trade the Quasimodo pattern is after a significant rally or sell-off no matter the time frame used. All chart patterns are fractal in nature meaning they generally appear in various forms in different time frames from the daily chart down to the 1-minute chart. This is great news for traders who trade across multiple time frames.
The existence of the prevailing trend gives us the opportunity to either catch an entirely new trend or at least we get the chance to profit from a temporary retracement.
Additionally, the Quasimodo chart pattern allows for better entry points, which is in contrast with trend trading where the entry signals are delayed. But, as you might know, each trading style has its pros and cons.
The existence of the prevailing trend gives us the opportunity to either catch an entirely new trend or at least we get the chance to profit from a temporary retracement.
Additionally, the Quasimodo chart pattern allows for better entry points, which is in contrast with trend trading where the entry signals are delayed. But, as you might know, each trading style has its pros and cons.
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