Nidal-Alzubaidi

DXY - 3BR ATR14 P&F Chart Pattern

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not an investment advice for educational purpose only .
HIGH POLE PATTERN

From the
3boxreversal.com/poi...l-pattern-explained/

PSYCHOLOGY OF A HIGH POLE PATTERN
The High Pole reversal is a taller variant of the Bull Trap. The sharpness of the upside breakout gives the impression a new up leg is underway. Sensing a rally, shorts panic cover and simultaneously relaxed buyers are suckered in. The initial upside extension is very often good news-driven, perhaps an earnings beat in the case of a stock. However, with the rapid rise, the news catalyst is instantly absorbed by the market, demand dissipates. Supply swamps demand, causing the price to reverse and collapse lower at breakneck speed. Recently entered long positions are trapped on the wrong side of the market, in losing positions. Selling pressure intensifies as a domino effect takes hold. The market drops.

remark :-😎 Supply swamps demand means (asset purchasing of the the power that be is now @ 60 billion monthly ) QE could rise as needed print more money and lend it ...........
Best wishes
Nidal Alzubaidi

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