Pattern suggests price trapped inside a Dome Structure.
Intent of pattern is to keep all participants inside the price structure.
giving neither side immediate gratification, but simply extending the pattern roll.
Too often overlooked, this pattern will highlight a feeling of uncertainty,
as neither side will feel comfortable, feeling they are about to be hoodwinked
by the other, it will likely keep traders on edge for duration.
Ultimate resolution should be a sharp break to the downside,
in time..however it may appear at the time of the breakout
that price is going in the exact" opposite" direction,in this case moving back up...
thus catching the final downside resolution, suggests a very high degree of embedded difficulty.
SPX Last 2670.71
THE_UNWIND
1/20/19
NEW YORK
Intent of pattern is to keep all participants inside the price structure.
giving neither side immediate gratification, but simply extending the pattern roll.
Too often overlooked, this pattern will highlight a feeling of uncertainty,
as neither side will feel comfortable, feeling they are about to be hoodwinked
by the other, it will likely keep traders on edge for duration.
Ultimate resolution should be a sharp break to the downside,
in time..however it may appear at the time of the breakout
that price is going in the exact" opposite" direction,in this case moving back up...
thus catching the final downside resolution, suggests a very high degree of embedded difficulty.
SPX Last 2670.71
THE_UNWIND
1/20/19
NEW YORK