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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Lou Weed who wrote (33551)	8/16/2021 5:33:20 PM
From: ajtj99	1 Recommendation Recommended By Lou Weed Respond to of 97968

The bottom of the candlestick is what determines the low. If you just count the open or the close, you discard over 99% of what happened during the session. I think you would agree there is more to the market than what's printed at 9:30AM or 4:00PM EDT. Also, when we talk about pivot points, it's usually on the penny. If you look at JMIA today, it tested the $17.90 lows, piercing it a bit at $17.85. That's close enough that it can be considered a double bottom today. I'm not sure it will hold, as the current bearish pennant formed off that low today targets around $17.50 on JMIA.