Stop Hunt signal December 30, 2017
Updated
December 30 a typical stop hunt similar to earlier documented events is detected. Again at the end of the week and just before a drop is expected. The start of this event was easy to recognise because of the change of price action acceleration, speed and momentum.
View the highlighted time range with 1 minute precision to best see the embedded whipsaw patterns that are meant to let the trader believe a drop is coming and start submitting orders. At the moment is writing a finish of the pattern was not yet confirmed. The next move could be a continuation of the pattern or a drop to next support at 112.
The number of signals that identify this area as a stop hunt is complete enough to be confirmed;
> Multiple whipsaw patterns
> Starts just above support at 112.5
> Climbs 20 pips
> Very slow price action
> Harmonic price action before the start
> Long wait at end of pattern before the trend continues
View the highlighted time range with 1 minute precision to best see the embedded whipsaw patterns that are meant to let the trader believe a drop is coming and start submitting orders. At the moment is writing a finish of the pattern was not yet confirmed. The next move could be a continuation of the pattern or a drop to next support at 112.
The number of signals that identify this area as a stop hunt is complete enough to be confirmed;
> Multiple whipsaw patterns
> Starts just above support at 112.5
> Climbs 20 pips
> Very slow price action
> Harmonic price action before the start
> Long wait at end of pattern before the trend continues
Trade closed: target reached
Dropped to support on Jan 2nd
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