Why the Market Could Continue Higher: Temp Trap Break Will Direct Us

We broke prior day's high by a tick and sold off this morning. Market was able to clime back and we're trading right below the trap level. Historically, a temp trap break leads to follow through, so we're adding to our position on the break of the Bull Trap (in the blue circle).

Here is the 1 hour chart showing the potential bull trap at HOD (high of day).

Update on long trade:

We were stopped out of a portion of the position earlier today, being that we went risk-free. We had around half of the position size remaining and added on the 1 Hour BOT. Below is the current position and stop placements.

As you see, all stops are above our average price, so we are risk-free on this trade. Our highest stop is at the FL1 bar. Once again, this is a failed short bar that if one shorted, should take heat prior to being correct on the trade; sometimes this is a lot of heat against the failed trade signal. Therefore, we believe that that's a critical level for a stop placement. The rest of the stops are below there and will be adjusted accordingly as more price action develops.