WEBINAR: SERIES 1 ENDS WITH A BANG

The webinar Series1 came to an end today.  Thanks for all that dropped in, shared thoughts, and contributed to a well received series.

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The targets were in place and we had a nice channel developing on the ES, with price testing the long BOT.  The comment was made to watch for a move prior to news, with a trapping reversal at the news.  The channel topped, and moved to the mid BOT support.

LONG!

1. At support of the mid bot.
2. Looking for a FBO of the channel.
3. At the 50% CB (control bar)
4. At the 5TF from the long BOT.  Here 5T means the required move for the long BOT/channel top short scalpers to get their point.
5. The BOT range was very tight in the upper range, suggesting buy pressure.

Price moved to secure a +7 from the long BOT and a +10 range from the open low.  Another channel developed, and another trade was taken in the PB flag to the TL above the EMA.  When a TL is near the EMA, the TL is given a higher preference for entries/exits.

PA was moving in a narrow range within the channel.  We had an estimate as to when PA, the TL, and the EMA would meet, expecting some weakness in price.  We see EMA - at the estimated point, with a second test before retuning negative.

Our TF friends were rewarded  with a similar move.  Again, we look for cross referenced moves in one or more markets to support our position.  If the markets are moving with your trade, there is a high probability of success.