One of our main concepts from large Primary trend double bottoms or even tops to smaller ones, they don't act like they use to (fall short of testing support), now they always blow through support on a head fake stop run, that's 1 concept which is tied to, "There are no significant reversals without a head fake move preceding them, this would count as significant.
I don't know how far the short limit orders go down in the bid ask stack, but looking at this, this could be as simple as the set up needs to be.
Yesterday we established a bigger base was being carved out, but I don't think for accumulation of longs, I think to draw in more retail shorts, you need to break support to do that...
The bigger view, there would be 2 main head fakes, one under the triangle then the base and the one under the base-just a moment ago.
A closer look, this is just moments ago, support is broken, but with sentiment what it is, those aren't stops, those are retail shorts coming in. It doesn't matter either way if smart money "wants to buy", both are sales, they can accumulate either in size.
Watch this for an upside reversal, if momentum builds, you know that's our bear trap
No comments:
Post a Comment