Weekly [06/21] Study
Good Morning Traders.
Market has gone through tumultuous headlines since our last release, and with Rollover + Short Week out of the way, I am ready to share my latest thoughts.
Earlier, I had warned that the environment we were in was in a way ‘trappy’ tape.
And that a Liquidation of Recent Lows would be a Bullish ordeal.
As of now, the Market indeed trapped participants at Highs; and the Sell-Offs were indeed an Opportunity to Buy the Dip; But something thus far has halted my rally in its tracks, despite being well off their lows. Curious.
![Weekly [05/27] Study](https://substackcdn.com/image/fetch/$s_!l4hs!,w_140,h_140,c_fill,f_webp,q_auto:good,fl_progressive:steep,g_auto/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F33f066db-1212-498b-9159-8bbb7b51994e_1202x1520.png)
My Pullback Scenario would invite an entire liquidation of both Profiles above. Strange world we live in where a -100p or more Liquidation is expected to be actually a Bullish signal. C’est la vie.
In timely manner the Trap tape had unleashed an attack to profile lows.
This came much sharper than I had anticipated, to no surprise this also came with the Pattern Day Trader (PDT) rule. I was not entirely hedged for this unfortunately, n’or was I on board given my long-lasting Bullish Sentiment.
Nonetheless, Price sweeps the Stops of any Late-Player holding on to the Rally;
And I meet my conditions to shoot another Swing North.
On Paper, the Market Lifted off Accumulation. It then popped Higher as it was ‘questionably manipulated’ during a certain Birthday.
