But the bounce has not come back to the base and from your video, you say that if it doesn't then it's not following the pattern so it's time to get out?
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But the bounce has not come back to the base and from your video, you say that if it doesn't then it's not following the pattern so it's time to get out?
You should go rewatch the video..
First it did bounce back, the base is debateable, its 14ish, there is no exact numbers here.. thats not how it works.. You cannot just expect every bounce to get to an exact number and turn around.. you have a huge margin for profit on every trade.. in this case from .10 to .14 thats a 40% window where you can get in and make profit.. So in this case it did get pretty close to that .15, and still might bounce past it soon.
second, even if something bounces and missed its previous base by a few percent , that doesnt disqualify it, that would only be one error on the chart, and i need atleast 2 to disqualify it.
third, even if I do disqualify it, I dont sell at a loss, I just dont buy more.. I stop buying, and give it a chance to correct the error.. Some bounces do take longer to play out.
And in this case it will likely bounce again still because the chart shows a good history of buyers taking over and spiking the price..