Hiding in plain sight. Disguised buyers or sellers. We had that today before the US 10 AM news. First, PA rising in the range. Second, PA lows only slightly below the EMA. But notice the expanded bull bars where buyers were entering slightly higher from 8 AM to 8:45 to the open at 9:30. The push through the LB (long BoT) with a PB to prior selling pressure levels, a B1 50CB, and a higher low.
Multiple key points converging with PA can spell expansion in the PA; the kind we saw today. Even B8 expansion revealed a 50CB at the break out 5 level (LB +5 points) as it ran to BO 10 for a reversal.
The reversal continued, and was a short hold, when PA could not create higher highs, but more importantly, Pa could not PB beyond key levels (BO 5, EMA, LB etc.).
They work for the bull, and for the bear.
The story before the US Market:
PA in the Euro Zone trading was almost duplicated in the US market. The LB (buy) and the SB (sell) levels were calculated and followed into the US market. The 2:55 break out ran for a +10 and a sell reversal. These reversals were almost identical to the US LB, the following 50CB buy was near the MB, and the prior selling levels were near the SB calculation. Like the US PA, multiple levels converging become very important to watch.
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