PA TODAY:
Pre open buy at the SB as price stabilized on the sell off and completed a range run to the LB where the reversal began for a range run back to the SB.
We broke the SB for the BO-5 run and found support at a double bottom from yesterdays lows. This was the next buy area as price was expected to return to the SB at a minimum. Opinion: a BO-5 that fails to break will reverse.
After the SB we look for buyers to get a +8 to +10 return. With a bull channel in play, the range run back to the LB developed. It took four hours, but was completed.
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