NEW BOT Rangers were provide last evening that were still valid at the US Open. We quickly had a Short scenario at the Short BOT (SB) for an anticipated 5 point run to the SBBO-5 level, or SB-5.
Buyers were noted, and an advisory was released:
[09:50] <CM> longer term time frames we are still sideways we are looking at a pb to 42 a short +5 from the sb
[09:54] <CM> the issue is weak pa just below the prior lows seeing this as a fbo reversal
[09:56] <CM> b5 cont trend and was a fbo rev attempt bo-5 still target
[09:58] <CM> two targets 42.5 and 42 slight difference in pa calculations current v longer term
[10:04] <CM> b7 buyers sh stop to 45.75
[10:06] <CM> the target is unchanged but the buy strength was unknown so move stop just about prior push max profit in sh run and get out if a bottom reversal
[09:54] <CM> the issue is weak pa just below the prior lows seeing this as a fbo reversal
[09:56] <CM> b5 cont trend and was a fbo rev attempt bo-5 still target
[09:58] <CM> two targets 42.5 and 42 slight difference in pa calculations current v longer term
[10:04] <CM> b7 buyers sh stop to 45.75
[10:06] <CM> the target is unchanged but the buy strength was unknown so move stop just about prior push max profit in sh run and get out if a bottom reversal
[10:08] <CM> b8 additional buyers noted these can be exits at/near the bo-5 this is important to note perhaps the sb5 will bottom and reverse
Well, PA did reverse and the PB was to the SB=EMA=PA and prior lows. Next advisory, a range run was expected.
[11:01] <CM> target numbers for longs 52-52.75 overnight bots 51.25-49.75-47.25 we continue to play in the lower part of the range
Two trade styles were presented: a well cap account and a moderate account. You should develop a trading plan at 1-2 C's, then work your way up as you become successful. Do not go ALL IN until 1) you trade the best trades consistently and 2) you get out of non performing trades with minimum risk exposure.
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