A price pattern that appears during multi-session trending that identifies its reversal. It is a daily bar that gaps counter to the prevailing trend, and closes even more contrary to the trend, but isolating a temporary intraday probe to a new trend extreme.
Study the setup’s historical occurrences here:
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This setup has occurred on the following dates:
- 06-18-20
- 05-21-20
- 05-02-23
- 04-03-23