10:20 AM EST
The strong range is the game until PA breaks. The range in question is the 1763-1768. US was sluggish this AM as the market was watching the FED while the professionals took the sheep up toward the range top and descended faster than the Tower of Terror.
Multiply looks showing some weakness, pull the trigger when you know the upside risk for a short, downside risk for a long.
5 minute, 1024 Tick and the 2 point range bar
and the quick exit at moving support, and to get out of the way from potential chop in a range bound opening.
PM NOTE
PA continued to range run for the day and broke to the BO-5 area and returned into range. Also note the two major 50CB's and the test patterns that developed.
The first 50CB was tested and had a FBO, suggesting more selling in the range. We also see a gap to the upper part of the range, another weakness signal. After the BO-5 run, PA rose to test the second major 50CB
No comments:
Post a Comment