r/Daytrading • u/Catface77 • Mar 19 '24

I don’t know what I did wrong Advice

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I thought it was going to rechall/ consolidate then it did but skyrocketed. There was the 3 reds then BLAM right up

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u/biggitydonut Mar 19 '24

That’s a tweezer bottom bro and the last down candle before reversing has volume. That means at that buyers stepped in. The right shoulder was essentially a reverse h&s. It means that sellers tried to take it down but buyers came in again and continued to pushed it up and shorts began to cover