How psychology plays, small 🧵
Monday was down-trending day
Tuesday, to everyone's surprise was an up-trending day
Not to mention the CE premiums spiking
Today after a small correction in the morning, a sharp uptrend was seen

Also after a two back to back trending days, market usually goes into consolidation, since the moves were huge the consolidation range was also huge and hence we saw a sharp volatility within that range
However looking back now, it was within a rectangle range of 377500-38450

Now when I look at the charts post market, it was clear that not even two green candles (in 5min TF) held above 36400 levels and we saw a sharp sell off
But most of us still got caught on the wrong side (PE sell)
Reason: RECENCY BIAS!