Now I'm no pattern trader in the least, but this one is easy to spot and one that DOES work out 90% of the time. So, price rose UP and UP, until it hit a price where the market said.. ehhhh, i don't know about that.. and then price turned down just a bit. Then the market re-considered and turned UP again, and rose all the way up to the top of the head.. then it said.. whoa, this is really too high.. it pulled a U-turn and headed DOWN. After falling some it said.. wait, maybe price should go UP a little.. shoulder #2 was born. Now, I wait for price to fall below that 'neckline' that I drew, and then its bear time baby..

Well, I waited until 10:30am to get in and price just wouldn't break below that neckline..

But I think there are more rational traders right now, and they would also trade bear with me. So, hopefully, despite the contrarians, price will head down overall..

and look what happened..

perfect example of shark stop hunting.. taking unfair advantage of the 99% of little traders like me.. :(

1 big, sly, trader with tons of cap (probably a big bank trader) pumped the market right as I was getting in, then for good measure he/she pumped it yet again to get all the stragglers to stop out.. before.. they finally were satisfied with the fat profits and left the market to fall straight back down to where it should've been in the first place.

note: this was on a paper trade today. I'm glad I had no stop, as it survived the shark attack, but had it been real.. there's no way I would endure the 4-5 times stop loss. I may have set a 1X stop, then get stopped, and wait for the drop at the end to make some profit overall.