AKIN to yesterdays trading, PA had a LBBO that failed, and created a reversal short for the range run. It is what is expected with BOT Ranges. What was different, the range run was more stable that yesterdays jerking action that tended to take traders out.
Exited shorts at the sign of a revived bull-B4 in the US Open. The watch was for a SB bounce. We did see signalling in B1-b3 of bull support at 1391. This failed and the watch was over. Shorts were ok at the SB and they produced another +3
Day over, and worth the early play. Time to enjoy the day..
UPDATE
the 8 am TL continued to be resistance. We had two nice SBBO the last stalled at support and began an ascending triangle. 1387 was showing support, and I discussed in chat that the BO-5 level was considered the extent of the selling. By B57 we have a low risk long: above the bear TL, PA gap to the EMS, cross of the SB, and a BO of the triangle (top was the short BOT).
Some exits at 1394, but any shorting would need to wait for an entry closer to the Middle BOT. Bulls tried to reclaim the 1400, settling for 1398.
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