Strategy Description: For various reasons I was looking for PTCT to roll over. And there were a couple of reasons for not expecting it to plummet (but those will be covered in the playbook review for PTCT). However, want to zoom in and focus on the actual tape/5 second chart.
The first move was down, and there was a bit of a bounce off that, but it never really bounced a lot, and it seems like it would be reasonable to expect it to crack lower. However, as it holds the longer it holds the less likely it is to crack (especially on the open). Then when you consider how wide the "true" spread is, which is about the size of the consolidation. The risk-reward simply doesn't make sense to have any size down near the lows.
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