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It’s often difficult to determine after a correction whether a bounce is the start of another leg higher, or instead merely a temporary reaction in price before further downside kicks in.

I’ve found over the years that aside from just locating chart patterns such as bear flags or rising wedges, some general characteristics tend to go along with bounces which are failing - or at least which are suspicious.  Let’s just say those bounces which are hard to trust do have some common characteristics.

Here in Episode 79, I’ll go through a few patterns which appear to be bounces which could quite easily fail, and I’ll describe the common threads among them.  Hope you find it helpful!

(Be sure to click the full-screen option for best viewing.)

Hope you enjoy the show! Thanks for watching and subscribing, and feel free to post your ideas and comments down below.

Trade like a Bandit!

Jeff White

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