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Trader Vic's 2B pattern

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This pattern was mentioned by Suri Duddella in his interview in April 2008

Here is an article which describes the pattern

Trader Vic's '2B' Patterns
Submitter: wobble wobble (Ideas, comments)
Category: Technical Analysis
  1. 0 Buys, 0 Sells rate down rate up
    Thanks for the article. It was confusing to hear him talk with Tim in the interview, but the article breaks it down nicely. I like trading daily beakout bars when a stock has pulled back from its 52-wk high's. IE: Stock runs to 50, pulls back to 45 where a hammer forms, my entry is 10 cents over the high of that hammer with a stop 20cents below the low of the hammer. This way, the stock can rally or continue pullin back, no harm no foul, if it begins to rally again, I can jump in on a low risk entry point with defined risk. I also never trade the first 15 minute bar, this allows for direction and noise to be established and filtered.
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