A very large gap was created over the weekend and PA fooled everyone into believing it will close it. But as usual it bounced off the top of the gap creating a very deep bear trap. Two possibilities exit, either a continuation upward to 12250 and which point price must come down to fill the gap or a detour here and a bull trap. The latter is healthier for the bullish case, paradoxically because a fall from 12.2k to the lower 10k is very bearish.
This is the second time that cme bounces of the gap and not close it directly.
Bearish divs on the HTF exits currently.
This is the second time that cme bounces of the gap and not close it directly.
Bearish divs on the HTF exits currently.
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