BOT TRADING SYSTEM
Globex or RTH? Individuals will always have valid reasons to follow either. The globex had a buy approximately 40 minutes before the open. A buy that was the foundation for a buy TL: the point that buyers entered over and over in the BOT Range. On the extreme, buyers took exits as highs developed.
On the RTH, B1-3 ran the range and reversed at the LB resistance. B4-10 bounced inside the range stealing long and short stops. Wicks and tails become a dangerous trading zone as each side positions for superiority. The superiority that neither could gain with a BO of the LB nor the SB.
B10-11 developed as a 2B Doji at the SB and the buyer TL and ran the range for a LB BO for more HOD exits approximately LB +2.5. The B16 50CB was tested on the PB to the low at B21 for a new run on the HOD. B26 and 27 formed a reversal "r' pattern and a test of the B26 50CB.
The reversal ran to test the 1408 MB area where we saw new support buyers, when additional interest at the buy TL and B43-44. This buying pushed back to the highs at LB +2.5. The final buyer effort hit the buy TL at B71-72 for a new run to the HOD.
The two point bars were in a bull channel setting HL's. The tick chart reflected the changing mood of the trades. The 5m ran the range to fail and return. When PA bars are overlapping and we are in a range bound day (5m) it will always be in the interest of the traders to follow the trend and wait patiently for PA at key levels: the LB/MB/SB, the EMA, and any detected (perceived) buy/sell trend lines.
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