Constructing bulltraps
UJ is seemingly very bullish. But in reality it has just broken slightly above a quite insignificant trendline. It has made impression to do so in a very bullish manner with breakout testback.
There is key resistance confluence zone between 113.6 to 114.X. Furthermore, it is blocked by a much more chunky trendline on a longer term scale.
I suspect this is the construction of a very ugly bulltrap.
There is key resistance confluence zone between 113.6 to 114.X. Furthermore, it is blocked by a much more chunky trendline on a longer term scale.
I suspect this is the construction of a very ugly bulltrap.
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Come on now UJ, go and test the level R1 and see how it goes, less than 0.1 from the level. Taking its time, zzz
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Only when the time is right
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Between 17th and 22nd, there is a great likelihood that 106.5 will be seen.
Operación activa:
Adding to short here @ open.
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Nice channel here. From 1976 - meeting bulls in the doorway :)
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But as a minimum of things Confirmation-Charles have taught us; At least wait for one day to confirm the current move. So too early yet to celebrate bulls jumping into the flames.
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I tried to count closer what is happening on smaller TF. Looks like we might surpass the 114.213 a bit up to 114.5
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Looks like the upper level on chart 114.2X was well respected. Let's see what happens tomorrow.
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Time to punish breakout trading bulls. Big time.
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What is that sound? Yes, it is the sound of Foz de Iguazu
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Bulls will now try to buy the "dips" in vain.
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Landed on the yellow line. Might have a pointless bounce from here.