Naming this the E9 Eraser Pattern as it literally erases traders out the game...
Impulse leg creates a peak with liquidity pool above the peak, this area (usually the wick area) is eaten into signalling to go short, as price moves in that direction price is sharply reversed after an internal structure break, trapping said short traders. As price breaks/pushes out of the prior Initial high, triggering buy stops / stop losses, once again we can expect price to sharply reverse.
Ideally we will see an OVERWATCH candle signal print, signalling potential reversal pattern in play.
