Bulls are exhausted turning into Trading Range
1. This is a very classic Trading Range chart. It is a 20% Bull play to break the top of the Trading Range. The bulls are getting out 4 -5 times to sell out for profit taking.
2. On Sept 7 2017, the Bulls see it as a Tease Break, trapping the bear to break the 108.52 level. The probability of breaking TR is 20%. The Bear Stop selling at this region, waiting for a pull back at 109 level to form a double top bear pressure to break the Trading Range. (Notice there is not enough fundamental reason to break the TR on Top and the Bottom)
3. On Sept 7 2017, you can see the Bulls buy aggressively. Because there is a void. Bears are stop selling. Trapped Bulls stop selling. They buy for any reason.
4. The weakness is shown at the top of the Trading Range a Wedged three pushes up on top of the trading range. It shows the bulls are exhausted. It is most likely turns into a Trading Range. The best Bulls can do, is to form a double top and get out of the position at Double Top.
5. The fundamentals are currently not supported to break the Trading Range on Top or Bottom. According to the Interest Rate Future, there is 91 percent to raise 125 -150 point. All Eyes are upon the FOMC meeting at Dec 12 -13.
2. On Sept 7 2017, the Bulls see it as a Tease Break, trapping the bear to break the 108.52 level. The probability of breaking TR is 20%. The Bear Stop selling at this region, waiting for a pull back at 109 level to form a double top bear pressure to break the Trading Range. (Notice there is not enough fundamental reason to break the TR on Top and the Bottom)
3. On Sept 7 2017, you can see the Bulls buy aggressively. Because there is a void. Bears are stop selling. Trapped Bulls stop selling. They buy for any reason.
4. The weakness is shown at the top of the Trading Range a Wedged three pushes up on top of the trading range. It shows the bulls are exhausted. It is most likely turns into a Trading Range. The best Bulls can do, is to form a double top and get out of the position at Double Top.
5. The fundamentals are currently not supported to break the Trading Range on Top or Bottom. According to the Interest Rate Future, there is 91 percent to raise 125 -150 point. All Eyes are upon the FOMC meeting at Dec 12 -13.
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