December 30 a typical stop hunt similar to earlier documented events is detected. Again at the end of the week and just before a drop is expected. The start of this event was easy to recognise because of the change of price action acceleration, speed and momentum.
View the highlighted time range with 1 minute precision to best see the embedded whipsaw patterns that are meant to let the trader believe a drop is coming and start submitting orders. At the moment is writing a finish of the pattern was not yet confirmed. The next move could be a continuation of the pattern or a drop to next support at 112.
The number of signals that identify this area as a stop hunt is complete enough to be confirmed;
> Multiple whipsaw patterns > Starts just above support at 112.5 > Climbs 20 pips > Very slow price action > Harmonic price action before the start > Long wait at end of pattern before the trend continues