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Please read this carefully. This discussion is to let you know "the retail investors" that you have the upper hand. That you have huge flexibility in markets. That if you see a chart pattern you can act on it. Not everybody is seeing it. If it fails, it will just fail. Not because everybody have seen the pattern.
Institutions who move asset prices with their positioning can NOT enter and exit the way retail investors deploy a 100K or a 1M.
They build positions over weeks. They have algorithms that buy X amount throughout the day i.e. on VWAP (Volume Weighted Average Price). In other words they can't just press the buy button and enter at market price the way retail acts at the time of breakout confirmation.
So, all this programmed buying is done in an organized fashion, not to push prices higher and let the buying opportunity disappear. So when the algo realizes price is moving away, it might even sell to pressure the price. To keep it in a range as long as possible to complete the accumulation.
The pattern you are seeing is the accumulated buying and selling that takes place by different traders/investors. The consolidation that I saw before i.e. the Crude Oil market took off was one of those.
Do you think, large funds didn't know the approaching #war risk?
So as a retail, as a I always say, YOU have great advantage of being able to:
1) Act once that accumulation is completed and confirmed.
2) Act without any oversight, when you want and with how much you want, without the fear of moving markets.
3) Be able to exit, when conditions change and that breakout fails.

Aksel Kibar, CMT@TechCharts
#CRUDEOIL might become a bottom reversal. Neckline and the 200-day average are overlapping around the same level.
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