Purely psychologically driven, it will be clear which direction this will take next. beware of traps and wait for confirmation before trading a direction
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Potential trap examples
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its a top for now
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looking shortside. tight stop loss in case of sharp reversall
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First target at 0.5, second at 0.45
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A zoomed in chart on the 5 minute shows the details of the breakdown. Looks very clean with short term action on the downside
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For those curious on the outcome, this ended up being a bear trap, as we fell out of the wedge, strong buying pressure came in forcing it back into the wedge, now it is looking to pop upwards. 0.80 awaits in the short term
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