October Surprise...
This looks like a classic double head and shoulder print fake out...
The psychology behind this play is as follows.
Late longs in the top box. Some have been holding since May because they "BULLieve"... Some just came in due to FOMO. When price gets close enough to their entry they will thank God for their money back and exit. Along with smart money shorting resistance this will drive the price lower...
Now we get to the bottom box. Some of these people ae in small profits. Some probably from lower. When price starts to get to this area. They will question why they didn't take profits at the top because they already are. They will have fear and regrets. Along with the retail know it alls... They will sell and short right into the smart moneys hands and the stop losses set on the shorts will drive the price higher and all the people that just sold the bottom will eventually follow out of regrets of selling and start buying back the same shares they sold to the smart money at the bottom as the top of the next move comes to completion...
Managing Money...
It's a VERY emotional game.
The psychology behind this play is as follows.
Late longs in the top box. Some have been holding since May because they "BULLieve"... Some just came in due to FOMO. When price gets close enough to their entry they will thank God for their money back and exit. Along with smart money shorting resistance this will drive the price lower...
Now we get to the bottom box. Some of these people ae in small profits. Some probably from lower. When price starts to get to this area. They will question why they didn't take profits at the top because they already are. They will have fear and regrets. Along with the retail know it alls... They will sell and short right into the smart moneys hands and the stop losses set on the shorts will drive the price higher and all the people that just sold the bottom will eventually follow out of regrets of selling and start buying back the same shares they sold to the smart money at the bottom as the top of the next move comes to completion...
Managing Money...
It's a VERY emotional game.
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