Bearish AC=CD Pattern.
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Bull traps usually form with harmonics. There are actually a few ways we can derive harmonic signals here but to keep things as simple as can be, this looks like an AB=CD pattern.
Where the trap comes in two equal (ish) legs and where the final pop (D leg) is the strongest part of the whole correction.
During this final phase, bears are squeezed out and bulls become cocky, complacent and often leave themselves over exposed.
If the AB=CD pattern succeeds here, something nasty tends to follow.
Where the trap comes in two equal (ish) legs and where the final pop (D leg) is the strongest part of the whole correction.
During this final phase, bears are squeezed out and bulls become cocky, complacent and often leave themselves over exposed.
If the AB=CD pattern succeeds here, something nasty tends to follow.
Uwaga
From as early as the November low, we could have known to look for bear signals in this area. We're in this area. It's not wise to ignore the bear signals.
If they fail, bulls can usually buy a retest of the exact same price. Be in the same trade with it being about 70 % less risky that buying here.
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