There comes a time when buying the dip in a trend doesn't work out. Today was such an example; where the 2c-2d buy setup turns into a 4c short setup.
Coming into 11:30 (CST) we had a 2c-2d criteria which was also a momentum buy divergence. We got a buy signal (following the 3d setup on the 5-min chart) but price failed at resistance and rolled over. This roll-over turned into a 4c short setup on the 15-min chart.
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