h pattern - ATW

Just one trade for me today - ATW. Wanted to short SPY on the break of the 2nd bar and PDL but just couldn't pull the trigger.


ATW formed an h-pattern yesterday and broke down today reaching full extension measured from top to the low of the pattern yesterday. Volume was very low. I entrered on the first bar, below PDL.


Did not take this trade but saw on time. Nice drop yesterday on volume followed by 2 IB today before the breakout. Beautiful downsloping 5 EMA.

SU - h pattern

SU formed a WRB followed by a series of very NRB. Retracement was less than 50%. EMA's all in bearish orientation. Shorted on the break of base with 38.2% FE as target. Just before reaching the target it formed a hammer on 5 min and I exited completely for 2 reasons. Market is holding well after yesterday's huge rally. Secondly, SU already had a move down yesterday and I was expecting a short reversal/retracement.

AMZN - h pattern

Trade based on 5 min. chart.

AMZN sold off after the open forming consecutive lows. Price retraced slightly forming a rounded base. Entered on the break of the base with a target of 50 EMA on 15min. where price has high chances of bouncing. I did not like the way the EMA's were stacked on the 15 min. chart. 5 EMA was near the price as resistance. Covered the entire position at target.