Previous Day High Bull Trap: Why we're cautious and trading Risk-Free 7/30/15

Don't need to say much about this. We had a Bull Trap at previous day's high (blue circle). This is why we're "Risk-Free" on our long market trade.

Our stops are spread above entry price on the long, so we have no risk. If we get stopped out, we locked in some profits. If we don't get stopped (or stopped on some), that's cool, we traded the "pull-back" stress and risk-free- and have potential to make larger gains and add to position.