RANGE-BREAK OUT-RANGE

We had two range days that ran LBBO+ to SBBO+, and a watch was issue each day for a break out/  Yesterday we saw that BO.  Today, back to a range day LBBO 5/10  to SBBO +5/10.



PA moved inside the BOT range and we see an early FBO of the SB.  It was interesting to see price hit a 50CB, MB, and EMA BO in the same general area.  This frequently happens with the BOT levels.  The FBO combined with the other long signals created the first trade long at the 50CB.

The favored trade continues to be LBBO or SBBO for +5, with a runner set to BE or +10.  The first to hit, exit the trade.  Naturally,  any profit above the +5 is a personal decision as to when to exit the trade.

Next, look for the reversal trade like the 50CB at B2, which was a minimum short to the EMA, which again was very near the LB.  B3 and 4 failed to reverse the LB.  B5 resolved any doubt about shorting ( it could bounce for another bull run).  PA consolidated B7-10 with two FBO of the SB.  This also completed a H&S pattern back to our original entry point, and developed as a TC (trend continuation).

SBBO, TC, H&S.  Coincidence?  BOTs work. Period.

Again, standard +5/BE10 preferred play.  The +5 and +10 lines were on the chart well before the PA  reached those points.  The +5 was a fail BO of the EMA, and the +10 area was a consolidation BO of the EMA.  Point?  These area are important for a reason.  Play the 5/10 up or down, and the reversals.