Market Recap: Trading The Anti

Apr 5

In this video, I go over the possible trades in the day. I also discussed why I didn't take some trades and what trades I did take. Spoiler alert, the one I took was an Anti setup. Below are some characteristics on the day

• Yesterday's monster sell-off, price moved toward and sold off at the 50% retracement of yesterday's sell-off.
  
• Slow consolidation in overnight, pre-market action
  
• A bullish pullback setup
  
• A bearish failure test at or near the 50% retracement.
  
• The failure test was followed by 3 strong bearish candles
  
• Anti-pattern setup following the 3 bear candles.