Retail traders will short at this upper channel when they see the upthrust bar, but they are actually going to be providing liquidity for Smart money who want to sell the rest of their positions and go short without marking down prices.
If I'm smart money, I would put out an article that will cause prices to gap up on the open causing all the stops to trigger. The gap up will also lure the rest of the retail traders into buying at the top. I know this because I used to buy at the exact high and I used to short on an upthrust bar in an uptrend. The bar will probably be a narrow bar because smart money is selling so much stock that it is preventing prices from rising much.
If I'm smart money, I would put out an article that will cause prices to gap up on the open causing all the stops to trigger. The gap up will also lure the rest of the retail traders into buying at the top. I know this because I used to buy at the exact high and I used to short on an upthrust bar in an uptrend. The bar will probably be a narrow bar because smart money is selling so much stock that it is preventing prices from rising much.