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Good afternoon, traders.
Well we have this large head & shoulders pattern, and while the bears got a lot of purchase from it for a while, we’re now back above the neckline, and we’ve retested that from above today, and then we even rallied from that:
There are a couple of things we can do.
Ok, so the only thing that matters right now is whether we’re in a bull trap or not. I am open to it being just that; I am open to it not being that. We’re either still in a bubble or we’re not. I will go either way.
But, while we’re in an area of risk, where a bull trap is entirely possible if not even likely, I will continue to try to be a seller, and I will take things a day at a time.
If we drop, we’ll drop soon, if we keep going up, I will join the party.
Right now all I’m doing is playing the lower timeframes, selling where I think I can away with it, buying when it looks like that’s become tired. I hope everyone has a lovely evening.