Category:FBO BEMA

FBO below EMA, which is a failed BRBO, which can setup a reasonable long entry when context is right. On 20230515, market had a BXFO then a good BLBCH bar 10 forming a reasonable ORV setup, there was no clear MSR around bar 9, but since 8 is a strong BRBO below EMA with 9 as a reasonable FT bar, bears are hoping to breakout below for a MM down, bar 10 then formed a WB setup 2-6-10, it is a reasonable buy above 10 though it is still a TBRC, however then 11 closed as a stronger BLBCH and closed well above EMA, also above 6L, this is telling market's attempt to breakout below EMA has failed, with 10 being the 3rd push down forming a wedge bottom, and 1-10 being a sell climax on the open, this is a reasonable ORV setup.