PA was wandering along the SB at the US open. B1 and B2 were part of an ascending triangle where the EMA was a top. Both bars stopped at the SB, and B2 could not complete the range run to the LB. These gaps are important in range bound days. B2 50CB breaks for the short on B4.
The six bear bar run converts to a channel off the 50CB of B9 and we get a two point break of the BO-5. B23 was the reversal bar at the LOD as the bulls entered and began a bottom bull channel. Additional entries were available off the TL at the SB around B40. The PA was regarded as a FBO, as price was holding to the BO-5 with a variance of <1 point.
B63 area was also regarded as a FBO candidate with a run to the SB. The long worked to within a tick of the SB, then PA sold. As we approached the end of the day a spike was anticipated in the last 15 minutes, and PA sold off (spike bar 74) to the 15:00 levels and was followed by the bull spike (B77). PA finally closed the gap to the SB.
No comments:
Post a Comment