Participation
As we all know, all the traders know about the symmetrical triangle Pattern on the daily frame
All the traders follow this pattern closely
-But as you know, we already put some of our expectations for price action.
One of them was the failure to form the last leg of that pattern, although that pattern is bearish
Including the possibility of a double bottom
Including the possibility of falling to levels of 4500 dollars and that was the biggest share of the possibilities
-There are some explanations in this publication of why we put those possibilities
The beginning this leg fail and the price will drop
Everyone, as we said, knows about this pattern and everyone ready to buy.
But why did we expect that the last leg of the triangle model would not be complete?
we see very weak movements that indicate that whales are not entered the market
check this daily candle 12/4/2018 that the actual whaling of the market " was a bearish pattern at this time and all people look for $4500, but whales doing the opposite and pushed the price up "
like now they look for a pullback to $8600/$8800.
always know that the market here was built by " Smart Money" whales
Their only function is to direct the flock to something that eventually leads to their personal interests
But the current movement gives us the following
"Smart money" whales in the idle state, they are not buying or join this time
So if they want to sell they will certainly make the herd driving the price into a good selling zone for their benefit
This is happening now.
-We had another expectation and about a double bottom
This expectation was a good hope for the market but why a double bottom
If the whales is willing to buy, they will make the herd pull the price down
And of course if the break of the lower trend of that symmetrical triangle there will be a sellout from everyone and will be the appropriate moment to enter the whales declared another Pattern is a double bottom and then climb and all traders will accept it.