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Mullooly Asset Management, Inc

Mullooly Asset Management

Fiduciary Fee-Only Financial Planner | Investment Advisor in Wall, NJ

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Tim Mullooly on the Bull Trap Pattern

The Bull Trap Pattern

May 18, 2015 by Brendan Mullooly, CFP®

On this video, Tim explains a point and figure charting pattern known as the bull trap.

Steps of the Bull Trap Pattern

– Must form (at least) a triple top – additional columns are permitted, but not fewer!
– The security breaks above its top by one box – cannot be more than one!
– It reverses into a column of O’s before adding any additional X’s

This pattern is referred to as the bull trap because the bullish investors who bought the security on its breakout may have been duped. The immediate reversal to O’s shows renewed selling pressure, and hints that the one box breakout may not have been the powerful move we expected.

Be sure to watch the video to receive a great visual example from Tim!

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Filed Under: Videos, Chart School, Technical Analysis Tagged With: point and figure

About Brendan Mullooly, CFP®

Brendan Mullooly is a CERTIFIED FINANCIAL PLANNER™professional with Mullooly Asset Management, Inc.

1971 State Route 34, Suite 102
Wall Township, NJ 07719

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The information on this website and blog do not involve the rendering of personalized investment advice. A professional advisor should be consulted before implementing any of the options presented. None of the content contained in this website should be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.

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