Those that receive the early AM range values were reward immediately with a long bot break out (LBBO) that ran for a LBBO5 before the 50CB reversal hit. By the US open, we were in a position to take another LB hold, 50CB run to LBBO5 and 10. PA ran to LBBO15 before the MAXT reversal.
Release for today:
Yesterday the BOs were performing beautifully, and the oversoldthought revealed itself in the market with nice runs to higherareas. The market is in swing mode. Care today in runs + and-. Continue to look for 50CB reversals which are more powerful in swings.
ES 1151.5-1146.5-1142.5
NQ 2186-2175-2168
YM 10965-10898-10864
TF 676.1-671.5-668.5
6E 3684-3651-3617
Between the BOT bookends (two major runs) PA settle between theLBBO10 and the 50CB near 1155. At this point, shorter run plays were infavor until the market broke out of the consolidation. Some pointsdiscussed today:
[08:29]<Chartmaster> wild ride so far(expected) today focus upon the50cb
[10:29]<Chartmaster> pre open lbbo for those with the ranges this am 50cb was on the watch and we had a nice pb at 7:30 est 2nd launchto lbbo5 followed by a 50cb launch to hod lbbo15.
[10:57]<Chartmaster> slow grind but looking for 1155 t1 50cb from b2b4
[11:31]<Chartmaster> ok 1155 out of the way conservative longs still towatch
[11:32]<Chartmaster> 1158-679.1-2192.5-10972
[11:33]<Chartmaster> latter are the aggressive entries
[11:52]<Chartmaster> maxts reversing lower this is trading at anotherlevel and can be avoided but this is a typical day you willsee and should practice short profitable runs v the bo 5/10/15 variety
The conservative and aggressive targets became profitable, and we see theother bookend develop; a break out to run to a new HOD.
[14:05] <@Chartmaster>note the bo area (yellow lines) around lbbo10 and the 50CB wewere watching earlier at 1155
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