Just spotted a textbook peak formation on $PIPPIN. The price action here is showing all the classic signs of a local top—clean rejection from resistance, weakening momentum into the move, and that distinctive reversal candle pattern. This is exactly the kind of setup traders keep their eyes on when a rally starts losing steam.
For anyone holding or considering entry points, this marker matters. The chart's screaming that conviction is fading at these levels. Whether it holds or breaks through is the next question, but the setup's worth documenting for your playbook.
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SchrodingerGas
· 10h ago
Hmm... It's the same old top reversal narrative again. The Efficient Market Hypothesis just can't accept that.
Just spotted a textbook peak formation on $PIPPIN. The price action here is showing all the classic signs of a local top—clean rejection from resistance, weakening momentum into the move, and that distinctive reversal candle pattern. This is exactly the kind of setup traders keep their eyes on when a rally starts losing steam.
For anyone holding or considering entry points, this marker matters. The chart's screaming that conviction is fading at these levels. Whether it holds or breaks through is the next question, but the setup's worth documenting for your playbook.