That's some choppy stuff on CCJ.
Sideways price action for nearly a year now.
Probably best only getting involved at extremes until the range breaks.
https://www.tradingview.com/x/8y1htlng
Went long CCJ today on the 2day inside bar up setup above 25.01, stop below 23.85.
Similar setup on SRUUF
Discussion
So for example I could have waited to get in on a breakdown and reversal below my stop on the chart right?
That would have been the potential bottom of another broadening formation.
That's right. The lower low often is the better entry for several reasons:
- stops out early bottom pickers
- completes the A-B-C extension
- sets up for the potential double bottom
- sets up for a potential bullish divergence on various indicators.
Note the 2D-RDR-L that formed at the bottom and the recent 2D-RDR-S at the top of the range.
