Stop hunt in play. Wait for the drop
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Retail traders are getting stuck into the plans of the banks as usual - a few candlestick and chart patterns and they sell with the stop loss just above it. Well the banks are wiping all them out and readying their positions for a big drop.
See 4H chart.
NOTE: This is NOT a signal, nor does it mean I am taking this trade or the setup reflects my opinion. This is just a journal purely for documentation to see how trades will play out.
See 4H chart.
NOTE: This is NOT a signal, nor does it mean I am taking this trade or the setup reflects my opinion. This is just a journal purely for documentation to see how trades will play out.
Note
4H: the triple-top method with stop losses above the area. Wiped out as expected. Weekly: parallel channel
Monthly: trendline
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