This is how the market traps retail traders. Most professional traders are looking for this kind of trap to get into a trade, again experience is a prominent requirement to spot this and save yourself from the same. Any sudden momentum looks way juicy and lurking to retail trades as it is profitable in real as well but most of them ended up losing money.
Keep looking for such traps and save yourself from the same.
Happy Trading :)
Here is the screenshot of the same trap in 5 mins chart: Chart 1:
Chart 2:
Keep looking for such traps and save yourself from the same.
Happy Trading :)
Here is the screenshot of the same trap in 5 mins chart: Chart 1:
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Updated Fall:
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Trade consisted of multiple major indication's:-
1) Pending retracement in daily as well as weekly time frame after touching all-time high levels.
2) Continous retesting of Principal Pivot and Central CPR.
3) Negative sentiment since opening
4) Rejection from 50 EMA
5) Weakness in MACD Histogram
1) Pending retracement in daily as well as weekly time frame after touching all-time high levels.
2) Continous retesting of Principal Pivot and Central CPR.
3) Negative sentiment since opening
4) Rejection from 50 EMA
5) Weakness in MACD Histogram
