Whats a "pincher play" exactly? Can't find it anywhere..
A pincher pattern happens when the ADX line is on the overbought zone, and the PPO line is on the oversold zone, almost touching themselves, do they will bounce in opposite directions, and the stock bounces to the up side.
I use the MACD instead of the PPO.
This pattern happens when a stock is in a very oversold situation.
You can see on DXCM's daily chart that the ADX line turned down, and, the MACD crossed to positive and is pointing up.