The BOT levels area PA calculation that can be created at any point in time, but generally they are created prior to the US market open and run for 24 hours, or until a new level is created. If the Euro Zone was the dominant trading time, then the calculations would occur prior to that market open.
The ranges are:
- normal spread. long the LB short the SB and play the range run
- bear bias, the ranges are tighter near the lows.
- bull bias, ranges are tighter near the high.
Today, we saw the bear bias in the market.
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