This would be one hell of a bull trap, dead cat bounce, whatever you would like to call it.
We are in a rising wedge currently. I am expecting that if this plays out, after the sheer volume traded around 15-30k, that the composite man has exited his position.
He would be interested in accumulation MUCH lower.
I would expect this to start moving down soon. Maybe one more leg up to tag the wedge.
Breaking the wedge to the upside would clearly shut me up and make me put on a clown suit.
We are in a rising wedge currently. I am expecting that if this plays out, after the sheer volume traded around 15-30k, that the composite man has exited his position.
He would be interested in accumulation MUCH lower.
I would expect this to start moving down soon. Maybe one more leg up to tag the wedge.
Breaking the wedge to the upside would clearly shut me up and make me put on a clown suit.
Note
This looks like dogshit. Note
Maybe? Note
This is my base case.Barring any stock market turmoil.
Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.