THE day after the holiday, price was trading in a narrow range going into the US Open. PA tried twice to break the LB and finally failed at B6. Per rules, a range run to the opposite level was expected.
Drew a bullish TL to B7-8 lows to see if the MB would hold for a new bull push. B8-9 stalled at the EMA and could not break B7 50CB. The TL failed and the range run was completed to the SB with B12 being a 50CB at the SB.
By B13 bull support signaled and PA ran the range back to the LB. When the SB had a failed breakout, PA was expected to run the range.
A short around B25 failed. Had a tight stop should the bulls press again. Hindsight, not optimal place to short. Yes had a gap to the LB, but we had the EMA and TL support below. Non the less, quick out and back to longs with the trend.
By the time prices crossed the LB to establish new highs (the targets mentioned in chat) we had a nice gap to the EMA. Very bullish. Exits at the BO-5.
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