Hi @charkie bear traps happen when price is flirting with an obvious support level (often a long standing support level)..Insiders, usually brokers but sometimes syndicates, or just savvy traders will trigger stop losses at that level and then scoop up the capitulation...apart from getting more shares at the bottom it also removes a lot of the scared money before running the price up...I`ve actually seen this 1st hand in a brokers office...borrowed this illustration from @slick on another thread.
Enova Mining - Charting/TA Thead - 3c target then 6.3c, page-1723
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Last
1.0¢ |
Change
-0.001(9.09%) |
Mkt cap ! $9.579M | |||
| Open | High | Low | Value | Volume |
| 1.1¢ | 1.1¢ | 1.0¢ | $11.49K | 1.049M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 3100447 | 1.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.1¢ | 17083 | 1 |
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| Last trade - 15.46pm 05/07/2024 (20 minute delay) ? |
| ENV (ASX) Chart |