$BTC Update
Watching this candle range here on BTC - formed by the Sept 21 daily candle. We have now had 12 daily bars since then which have not breached the high or low of that daily candle. Nothing but inside bars.
What I am specifically watching for is to see which side of this candle range gets taken FIRST.
Usually (not all the time), the first move is the false move and then price would move to at least the 50% of the range, if not all the way across the range.
Its also worth noting that the previous week high (PWH) and previous day high (PDH) are pretty closely aligned with the top side of this candle range. A move to the top side would not only give us a potential sweep of the candle range, but also of PWH & PDH for a beautiful trap move - if we get it.
The key to playing these trap moves is to wait for it to play out. Wait for the trap. That means fading the pump and waiting for the failure back into the range. Sometimes we might get lucky with a retest once back in the range, but its not guaranteed.
Patience pays with these setups.