I’ve mentioned the hairy bottom pattern probably more times than you care to hear, but today’s example on BAC in 2 minute bars is a classic. Typically I like to see this setup play out for a minimum of 4 bars (8 minutes) . . in this case we see a 6 bar bottom… and, this is the frosting on the cake, it all transpired just a couple pennies below a major support pivot… S2. Checking the lower panel technicals we notice all signals upslope at 12:00 suggesting more positive momentum to come. The parabolics are a bit hard to see unless you zoom the chart, but they also fired a Long signal at 12:00. They just don’t get much better than this.
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