They also don't reverse down and close back below the 5-day 50% levels....
Traders simply have to define their trading based either side of the 5-day 50% level"
Premium Trader
DOW Weekly and 5-day pattern
Thursday started with price trading below the 5-day 50% level.
Even though HOOK patterns have a bias to rise higher into Friday, Thursday's set-up wasn't a foregone conclusion.
Price pushed down into Support (yellow) early and then continued higher into the close.
At this stage the bias remains with a higher Friday close.
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