Good afternoon everybody. Um, we had
kind of a breakdown today and we had a
bounce right from open. Um, I talked
about that a bit in the morning video.
So hopefully maybe somebody was able to
take advantage of that. Let's talk about
exactly what needs to happen to make
this a bull trap or rather a bear trap
versus um a bullish move. And um, let me
just start over. Let's talk about what
we need to do to turn this into a bear
trap for a bullish move or whether it's
just a short the bounce type situation.
Okay. So, what we need to see for a
bullish move, we need to find support.
We need to test all the way up to this
blue bar and then we need to find the
higher low. That's it. There is really
no other scenario I can think of that
would make this into a bull move versus
just a relief bounce. We need to take
out right here this 5900 level which has
not been back tested. We need to find a
higher low. If we can do these things
then we will rip. So make sure to put
them in your calendar because
uh we will have uh a scheduled move much
higher if we can pull this off. That
said, doesn't have to go that way,
right? Um we don't always get what we
want. So what this can look like if this
flags here does whatever it does and
retest the lows and eventually the lows
give way we are going to expect that we
will gap fill we will take it down here
we will take it down here so on and so
forth we're just going to continue down
the chart and we have uh we have more
down to do right here here whatever so I
don't want to give the
um the indication that you should be
bullish and today was a bear trap I want
to tell you exactly what to look for to
confirm that it was a a bear trap and
then um react accordingly, right?
Because there is no like outside of the
scalps from this morning that we talked
about. So, this means you could scalp
long, but you wouldn't want to swing
outside of that, you uh you have no
indication yet that this is a bear trap.
But if we get exactly what I just
described, it is and it will transform
into one. And there's no way of telling
until price lets us know. day is uh off
on Monday. So, we will know by most
likely Tuesday or Wednesday and uh we'll
try to do it accordingly.
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