Probably the technique for bottom picking TKO.TO would involve an observation of the lowest low ringed bottom in real time... a ringed low reads like this... the first time the following day produces a higher low off a lowest low... you would have the condition of a ringed bottom by the end of the day... the following 4th day after the ringed bottom is visible... the low should not go below the previous days low (which is the third candle in the pattern) and if it does... the ringed low has not occurred... such that until a ringed low is confirmed with a 4th day higher low... you would not enter a trade in anticipation unless you were confident in a cutting edge trade...
A ringed low is a three day candle pattern where the lowest low is marked by a low that is higher on the previous day before and the following day after...
Still.... catching a falling knife requires very tight mental stops and a move and close below a ringed bottom would signal looking for an out of the trade..... the close below a ringed bottom is not good.... try to break even if possible... but do something to go safe. You may get some whip... to not expect whip is very amateurish... the whip will translate into small loss trades.... better than a long ride down.
Let's suppose you catch an on the cusp real time ringed bottom that shows some profit... expect a swing top and retest of ringed bottom low in over 90 percent of the trades.... the test of the ringed low bottom if it is tested within days makes it a suspect.... a move to breach the low for those in love should be regarded as potential test of your love....
The reality is.... catching a falling knife requires as much luck as skill and the better a person is at it... the less tries you will have to make in doing the trade........... so you must practice a minimal loss strategy that handles the potential whip... which suites your pocket book...
This link TKO.TO takes you to an updated chart that demonstrates a succession of new lows daily...
There is no ringed bottom as of this post.
Check this chart out for an easy view of many ringed bottoms that fit the above description to a "T" JAG.TO
GLTA Lostoutwest
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