Symmetrical triangle after mark down with a break of support and now a TOD (Test of Demand) VSA bar, which is a test of support now resistance up bar with mid to down close on low volume, indicating that the market tested the previous high but with little demand, were unable to hold the test and closed near the low.
Initial entry at low of signal bar with initial stop at high of bar. Pattern remains valid as long as there is not a close above the high of the signal bar prior to a break of the low. Target is a measured move of the first leg of the triangle with an R:R of 1:4.33.
FYI: my VSA definitions are different than those described by Tom Williams and Gavin Holmes.
Initial entry at low of signal bar with initial stop at high of bar. Pattern remains valid as long as there is not a close above the high of the signal bar prior to a break of the low. Target is a measured move of the first leg of the triangle with an R:R of 1:4.33.
FYI: my VSA definitions are different than those described by Tom Williams and Gavin Holmes.
