Find the Trap and Price the Mistake

A range breaks up through 50 with a close at 51. Two bars later a bar trades down to 49.4 and closes at 50.3. Under the close rule, what is it?

• A pullback; the break still stands
• The reclaim; the pattern has failed
• A bull trap, because price traded below 50

When should the kill close for a pattern be written down?

• After the break, once you can see how far price ran
• Before either the completion close or the kill close prints
• Only if price comes back to the level