Bear Crown can pay bucks if treated right......

So the world was in a bearish mood, we kept selling any rally and making bucks....sometimes lots of bucks.....BUT, if you just use indicators like the MACD,
Bollinger Bands, RSI and even the lagging CCI...well you might have been caught on the wrong side of the market today during lunch.

It's called a crown pattern, a confirmed head and shoulder pattern with fibonacci relationship. Trading off the 3m chart and using the CCI we had two setups for a short. According to my rules, the first one did not trigger. The second one did.
Our auto trader picked it out of the crowd and we confirmed the alert and it went short. So for about 15 minutes we were feeling like Kings as the market was retesting the low.

Then it came down to .618 of the swing up, the TIKI barked out -24....-24....-24 as we were watching the bear crown form. Even traders in CB room had spotted the pattern as it unfolded. Since I wrote an article about it in Jan. 2003 for Active Traders, Well, I had to lean into that trade as the auto trader was trying to save our backends.

The important part of the pattern is the tiki reading of 24 or higher at the .618 area. Most traders get part of this pattern right...but forget about the tiki reading.....So, check this out......