Skip to main content

BAC bull trap may be starting to form

First mention: BAC weekly chart possible bull trap formation for NYSE:BAC by holeyprofit — TradingView

https://preview.redd.it/rdu0w6qb87581.png?width=1670&format=png&auto=webp&s=4eb8f121f5176346a010074043b27afc01f3a099

This post was made as we headed into the 161 of the last big drop. We have various weekly chart candle reactions on this price level now.

https://preview.redd.it/5j5xn1xi87581.png?width=1920&format=png&auto=webp&s=9d748428e1a48d2f6437cb64e9982047af05f0eb

Zooming in close we have the same sort of butterfly head-fake formation we tracked on BTC for weeks before the current hard down move in BTC started.

https://preview.redd.it/xa81dhiq87581.png?width=1920&format=png&auto=webp&s=841f9ccb4b2b6b54b098ff7ef07f80327d9789bf

As shown in the first posting, all of this is happening in around the critical retracement fib levels we're seeing a lot of tops being made in retracements.

https://preview.redd.it/6v9jmy8z87581.png?width=1679&format=png&auto=webp&s=8e2aa75f88be1c4cc775e0a7c613ddbf44f5dc68



via reddit https://ift.tt/3pN8TPv
Labels:

Comments

Post a Comment

Popular posts from this blog

Things to know about Forex

We're going to start posting more about Forex setups and opportunities. The Forex (FX) market is not well understood by all, so here's some important things to note if considering FX trades/strategies. ​ The Forex market is a trader's market Forex markets are not easy, but they can be worth it. The FX markets are by far the largest of the available markets to trade. Usually here people quote how many trillion a day is turned over in the FX markets but I've not looked it up recently and it really does not matter - the real underlying benefit of the size of the Forex markets is the spreads (Fees) are very low and it's easy to trade large positions. A negative laid against the FX markets is there's a history of banks being fined for manipulating them. My viewpoint on this has always been if there's manipulation there's design. Where there's design, there's opportunity if one can work out enough about the design to create some betting edges. Fo...
Post a Comment
Read more

Bear have more of a case here (But only with a small area of risk).

We’ve not seen anything notable bearish of late but we are now getting back into the sort of zone where we’d be likely to see bears if it is indeed the case we’re in a shallow bull trap on a weekly/monthly chart. Bears have not yet broken (And they might not) - but this is a time to be aware of the risks and where there’s again reasonable odds betting on a big bear move. Real further analysis and actionable break levels here. Bear break contingency plans - by HoleyProfit (substack.com) ​ TLDR: Short 4160. Stop 4179. Trail stops on longs to protect profits. via reddit https://ift.tt/zL2huGX
Post a Comment
Read more