Exhaustion short no - it triggers off the highs. Sometimes those
exhaustion shorts can be great shorts picking a decent high,
HOWEVER most of the time you just get a mean reversion pullback in
the uptrend and if you wait for a reversal trigger you give up too
much waiting for the reversal confirmation. But again, a lot of
things have to line up for that condition to trigger such as like
> 30 consecutive days above a short term MA, and RSI >
a certain level, and %R in the upper 90's etc
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Exhaustion short no - it
GOOGL--diamond- whichway ?--- forgive my poor artwork
Posted by matt on 19th of Dec 2023 at 04:35 pm
Exhaustion short no - it triggers off the highs. Sometimes those exhaustion shorts can be great shorts picking a decent high, HOWEVER most of the time you just get a mean reversion pullback in the uptrend and if you wait for a reversal trigger you give up too much waiting for the reversal confirmation. But again, a lot of things have to line up for that condition to trigger such as like > 30 consecutive days above a short term MA, and RSI > a certain level, and %R in the upper 90's etc