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The slide says "2 bars touched EMA, but bodies did not. Weak buy setup". Is a buy setup better if the bodies have touched the MA? I remember that from neither the book nor the course.
It also says "2 tails touching EMA is not strong foundation for rally". Is the problem that the market touched the EMA a second time instead of getting a bull breakout from the first touch?
The slide says "2 bars touched EMA, but bodies did not. Weak buy setup". Is a buy setup better if the bodies have touched the MA? I remember that from neither the book nor the course.
I learnt that also with this slide!
It also says "2 tails touching EMA is not strong foundation for rally". Is the problem that the market touched the EMA a second time instead of getting a bull breakout from the first touch?
No, a BO from the first touch would have been a surprise, the problem was the EMA was not touched by the bodies and it was a H2 at the top of a TR following a climax (4 strong bull bars), so probably a trap.
Thank you!
