BOTTASTIC BOOKENDS

Those that receive the early AM range values were reward immediately with a long bot break out (LBBO)  that ran for a LBBO5 before the 50CB reversal hit.  By the US open, we were in a position to take another LB hold, 50CB run to LBBO5 and 10.  PA ran to LBBO15 before the MAXT reversal.



Release for today:

  Yesterday the BOs were performing beautifully, and the oversold thought  revealed itself in the market with nice runs to higher areas.  The market is in swing mode.  Care today in runs + and -.  Continue to look for 50CB reversals which are more powerful in swings.



ES      1151.5-1146.5-1142.5

NQ      2186-2175-2168

YM      10965-10898-10864

TF        676.1-671.5-668.5

6E         3684-3651-3617

   Between the BOT bookends (two major runs) PA settle between the LBBO10 and the 50CB near 1155.  At this point, shorter run plays were in favor until the market broke out of the consolidation.  Some points discussed today:

[08:29] <Chartmaster> wild ride so far(expected)  today  focus upon the 50cb

[10:29] <Chartmaster> pre open lbbo  for those with the ranges this am  50cb was on the watch and we had a nice pb  at 7:30 est  2nd launch to lbbo5  followed by a 50cb launch to hod lbbo15.

[10:57] <Chartmaster> slow grind  but looking for 1155 t1  50cb from b2 b4

[11:31] <Chartmaster> ok 1155 out of the way  conservative longs still to watch
[11:32] <Chartmaster> 1158-679.1-2192.5-10972
[11:33] <Chartmaster> latter are the aggressive entries

[11:52] <Chartmaster> maxts reversing lower  this is trading at another level  and can be avoided   but this is a typical day you will see and should practice  short profitable runs v the bo 5/10/15 variety

 


The conservative and aggressive targets became profitable, and we see the other bookend develop; a break out to run to a new HOD.

[14:05] <@Chartmaster> note the bo area (yellow lines)   around lbbo10  and the 50CB we were watching earlier at 1155