In the words of the late great Admiral Ackbar "It's a trap!"
I originally dismissed this level due to the fact that trading is rangebound and this zone is neither at the top nor the bottom. (I linked to that set up).
But since then some strong resistance has been formed and respected. And just above that resistance is a little level within a Daily supply, which is a perfect bull trap set up.
I originally dismissed this level due to the fact that trading is rangebound and this zone is neither at the top nor the bottom. (I linked to that set up).
But since then some strong resistance has been formed and respected. And just above that resistance is a little level within a Daily supply, which is a perfect bull trap set up.