Thursday, December 12, 2013

End of Day Trap

I'm really not sure what to call it, I've been wondering what kind of price pattern they may come up with and an inverse H&S seems reasonable, with the last 40 mins or so of trade, it looks like they are going to try to scare some people out of positions, that's my initial take any way.

For instance...

 1 min intraday, these divergences on a 1 min chart are meant to call intraday moves and here it looks like a pullback from the current intraday position, although the candle looks strong.

At a 3 min chart there's no damage at all.

TICK is seeing a decline from that afternoon trend, but not through the channel yet.

I'd imagine for an inverse H&S we'd need a bit of a pullback for the right shoulder, I'm sure the price pattern will be something recognizable to the masses.

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