Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Bull and bear traps are very often the bread-and-butter of charting techniques, especially given the way that most traders when wrong footed will not then reverse the position and benefit from price action they may have lost money on.
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