This week didn’t start successfully as a trading day. A simple sell signal has been formed with a 3 x 10 Point and Figure setup at GBPUSD @1.4230 but the price didn’t fall further but reversed instantly and I got stopped out @1.4300 which resulted in a total loss of $9.
Due to the bank holidays in the USA, the markets have been very illiquid today. Next time I will probably stay away from trading, because prices did hardly move.
Here’s a screenshot of the trap I stepped in today – it’s not really a classic bear trap, because it has only been a double bottom and not a tripple bottom as in the standard bear trap.