This is an asspak candlestick.
belnov2

Definition:
ASSPAK

noun

1) a candlestick whose opening  and closing prices  fall within in  a narrow range, but creates a strong  price action intraday that results in a long upper wick.

2) it is visually similar to a long-bladed sword  and is just as lethal to momentum traders.

verb

1) to unexpectedly get pricked from  behind , usually by something that could cause you to bleed ( such as  a sharp,  short-lived price action)  i.e., “I got asspaked by BEL”

origin

1) from the word “ass” and “pak” ; the combination denotes  how a trader’s ass is compromised  by the stock position’s  portfolio- damaging price action.

This is what BEL momentum traders must have experienced today.

dawson

 

Getting an asspak could hurt your portfolio just as much as it could hurt your ego.

So next time you are feeling enticed to trade a huge gap up that opens quite close to a strong resistance, think about how much it might hurt you in the  end. Pun intended.

 

Webinar: High Probability Trades 5

Webinar Dates:
Part 1: November 19, 2016, 9 am– 12nn
Part 2: November 26, 2016, 9 am-12 nn

Details here

 

 

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