MONDAY began with a range bound attitude and a bearish bias (Lower Mid Range). All after a volatile Euro Zone. The open looked good as PA moved lower to the SB (Short Break Out Target). STALL, So much for the bear as PA reversed for a range run to the opposite target (LB). The expectation was a run to the +5 or BO 5. After all. we were in a bullish channel and Pa had a BO of the B1 50CB and we were North (+) of the 45degree TL from the 50CB. All bullish signs.
But, PA reversed short of the BO 5, and the expectation was "a reversal and range run back to the opposite target and a BO 5 attempt". So, a reversal and range run from the LB to the SB then a short BO 5. OK 1 tick short, and PA reversed. Read prior!. Range run to opposite and BO 5.
MONDAY
AFTER HOURS LOOK AT BOTs
After the run to the BO 5 we see the exit signals and the run back to the SB and the long signal near 23:20 that began a nice bull run going into the Euro Zone trading. TL's are not added (sometimes a chart can be cluttered!) but you get the visual with the two arrows.
Tuesday:
New BOTs for the US Open for Tuesday were again narrow, but this time favored the bull (Mid higher). By the way, the Mid is not a 50% level between the LB and SB and sometimes is omitted.
By the open were in a range run down with a bull BO TL at the upper price hits. B8 and 7 bears ran the entire range but there was no follow through. By B12 we have a FBO with a signal establishing a new bull trend channel from the ascending triangle (top is the MB). Zig and Zag PA pushed higher to the BO 5 to the tick.
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