ES Also has a Potential Flat-Topped Megaphone and Flat-Topped Triangle on the Chart
I was just looking at some of the moves the bots put in at the prolonged 2015 top, because the set-up for this top is the same.
Since our stop information is sold to the HFTs, it’s in their owners’ interest to build up stops behind a high or low and then run the price through them, and the look-back reminded me of that.
In 2015 they used fake breakouts from both flat-topped megaphones and flat-topped triangles to do that. The fake breakout from a flat-topped megaphone set-up is the green scenario. The fake breakout from a flat-topped triangle set-up is the purple scenario.
Next week is opex and it’s in the put and call sellers’ interest (i.e. big money) to keep the price pinned at roughly 2000. Either scenario would be a good way to work an opex pin.
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