island reversal unless put in a new high
According to Statistics-- Island Top Short Term Pattern:
Percent of successful formations – 77% Average decline of successful formations – 21% Likely decline – 10% Failure rate - 13% Average time to throwback completion –8 days
sss111222 is very nervous now, its OK. if you do not loss money, it is OK, this wave of down side will last 3 days until Friday's closing. BUT it will not go straight down either. so you will have many chances. long or short. It is also OK to just wait on side line and I think you will get the lowest point for some longs on Friday for next wave of swing trade.