PA quickly broke the 50CB from 6:10 AM EST at the EMA and bars at 7:05 and 7:10 AM EST. B184 broke the MB and established 1149 as a 50CB level. The 50CB of B209 at the open was a reversal of the SBBO, which did hit T1 (Target 1) which is BO+5. Also note the EMA stayed inside the ranges, and did not go negative in the LTR (Lower Trading Range). Price ran toward the opposite level until it failed the 50CB of B7.
The following SBBO stalled at a HL position. There was an entry on B17 (did not take) however we were discussing the 50CB entry with new T1 and T2.
[11:15] <Chartmaster> 50cb and tl
[11:15] <Chartmaster> worth a long
[11:16] <Chartmaster> 49.5-50 t1 t2 51-52 test
[11:17] <Chartmaster> by definition we should see another test toward the LB
The EMA remained strong for support, and was worth noting today.
[13:39] <Chartmaster> alert tf and es looking like maxt at the ema suggesting push higher
[13:39] <Chartmaster> nq/ym holding at mb/ema
[13:40] <Chartmaster> thinking tf/es ema goes + UTR
PA hit LBBO5, but there was a risk of a H&S completing.
[14:28] <Chartmaster> t2 in sight
[14:32] <Chartmaster> need 1 more push for t2
[14:34] <Chartmaster> stp at 56 would complete a micro h&s at ema and just above lb
[14:36] <Chartmaster> but thinking pros will get the lbbo10
The
H&S completed at 1156 (and a larger one to the MAXT at 1152) and the
bullish TL. The EMA remained positive in the UTR, and PA launched for
another LBBO to T1 of 5 points and T2 at ten points.
The TF was the leader today. and had a similar pattern. The chat
discussion continues to watch all four markets for leadership, and play
similar patterns.
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