WHEN we look at yesterday's sellers, their support level dropped. When we look at buyers, their support level stayed constant. When that support broke, PA drifted lower in a bearish channel to the SB10.
The channel offered both buys and sells. Only the B16 buy signaled across the other markets and this was shared in the chat room:
[10:41] <CM> s/w pa from 8am est h's and l's 61-65 range expiration day another tight range to play.. next entry must be signal across all mkts..
[10:48] <CM> b16 1:4 1 of 4
[10:50] <CM> 2:4
[10:50] <CM> b17 3:4
[11:04] <CM> back at t1
[10:50] <CM> 2:4
[10:50] <CM> b17 3:4
[11:04] <CM> back at t1
The long ran back to the T1 (target 1) for the exit. The last respectable long as PA pushed down another 5 points and entered a narrow trading range to end the day and week.
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