RANGE RUNS MAKE MONEY 3/30/12

LONG day so the talk will be short.  The market for some of us began with the shorting in the bear channel.  A FBO of the LB will tend to run the range.  At least that is what some $ traders are doing.  Range run make money.

If your not into holding, then range runs make money by playing run segments.  Both plays were available today and strong plays.  The next valuable play is the BO pattern to the BO-5 level.  Today the BO-5 run hit resistance just above the BO-5 level.  This area was referred to in chat as PA Gap.  We look for these as reversal points and today delivered at B15-16 with buy signals/entries.  T1 and T2 were hit.and T2 became support to those still holding longs/entering new longs.

The bear channel came from a 50CB bar.  At the end of the day an ascending triangle developed from a 50CB bar.  The range run completed, however the triangle did not break for the bulls, and PA tested support at yesterday's LB.

Nice month; nice week, and a nice day.  Range Runs Rock...