within the 1-5 minute timeframe there was a symmetrical triangle forming with the understanding that a trade will be taken to either direction based on which side it breaks out of first.
Notice how it broke out to the downside to catch some of these retail traders before moving the market swiftly to the upside. This is how the institutions can take advantage of chart patterns
Here is the link to the LTF chart for more details
Notice how it broke out to the downside to catch some of these retail traders before moving the market swiftly to the upside. This is how the institutions can take advantage of chart patterns
Here is the link to the LTF chart for more details