Stop hunt in play. Wait for the drop

Retail traders are getting stuck into the plans of the banks as usual - a few candlestick and chart patterns and they sell with the stop loss just above it. Well the banks are wiping all them out and readying their positions for a big drop.

See 4H chart.

NOTE: This is NOT a signal, nor does it mean I am taking this trade or the setup reflects my opinion. This is just a journal purely for documentation to see how trades will play out.

Komentar:

4H: the triple-top method with stop losses above the area. Wiped out as expected.

Weekly: parallel channel

Monthly: trendline