is this a genuine reversal or just a trap?
-
Anchor point is an area where price has traded the most between a significant top and bottom. It is plotted using major swing high and low to identify where most of the action happened during the move. These zones often act as important reference areas when price revisits.
Right now, KAYNES is approaching that anchor zone. However, the recent formation of a bullish anchor column suggests buyers are stepping back in, which is a constructive sign for the ongoing trend. At the same time, price is holding above the 10-column simple moving average, keeping the short-term structure positive.
Also, Horizontal counts come into play when a sideways base forms before a breakout, helping estimate the potential move once the structure resolves.
Failure near anchor - possible bull trap
Holding + breakout - continuation setup
We are at a decision point here price could go either way. What’s your take?Just sharing an observation from the charts for discussion and learning purposes.
