Heard & McDonald Is. Map on Once again contrarian parties stepped in, this time anticipating a failure of the bulls. As trapped bulls hurriedly sold out, this added to the bearish pressure of the 8-9 swing. Failed perforations at either end of a pattern are very common indeed and they clearly illustrate the danger in playing breaks without the backup of buildup.
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How about another false break at 9
Obviously, these stand-off situations can't last. Sooner o r later, one side will force its way through the defense of the other. But how can we tell a tradable break from a potential trap? By following closely the pressure in the bars.
Heard & McDonald Is. Map 2016.