Analysis:
And so we had a bull trap played out. Now, we have a rare pattern which iv seen just few times before. Attack on bullish key support, obvious break but session closed back in the support zone and whats more important bearish pattern is very odd, which in the past meant its not really a bearish pattern. That situation we have now always led to bullish move. The problem is it is rare situation (iv seen it just a few times before so not a lot of data on this one) which means I will trade it smaller size to the long side with stop loss below today`s low.
Strategy Status:
Trend following: long 4420/4413 (Aug 05)
Pattern: low probability long in a bear-trap.
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