Overnight, the PA rose into the trading range and a bull TL support was beneficial for entries. The last being at the EMA in the pre-open for a B)-5 run. The US Open range for the bears/bulls was established at 1219 (B1 high) to 1216.25 (B4 low). The latter (and the absence of a close above the pre-open control bar CB) was a strong suggestion for more selling.
Two CB levels later we are testing the low of the range run at B15/16, however a range run gap developed. PA reversed, and took two bull pushes to hit the long range again at B24/25. A HL developed at B29, and a "W" pattern completed at B35. (LB at B12 b16 B25 b29 B35).
Range bound, control bar breaks and retest, range runs, FBO's. Missing? Yes, the channel. Had that too, Bear channel inside the range with extended runs from both TL's.
Two CB levels later we are testing the low of the range run at B15/16, however a range run gap developed. PA reversed, and took two bull pushes to hit the long range again at B24/25. A HL developed at B29, and a "W" pattern completed at B35. (LB at B12 b16 B25 b29 B35).
Range bound, control bar breaks and retest, range runs, FBO's. Missing? Yes, the channel. Had that too, Bear channel inside the range with extended runs from both TL's.
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