- The MKT has a slight negative bias in a difficult "choppy" trade. On the SELL side DP BREAKOUT strategies are valid but should expect a laborious trade. UP and UT1 FADE and REVERSAL strategies are recommended but profit should be taken at initial targets. The probability is to the downside today but is not a day to press it.
- On the BUY side avoid UP BREAKOUT strategies but rather FADE a negative reaction after a positive breakout signal at the DIR. DP REVERSAL strategies are recommended over FADE strategies as "sloppy" trading conditions are expected. Any DP FADE trades should get confirmation before executing. Position management adjustments should be anticipated for all longs as sideways trading conditions can quickly erase profits.
Today's PRICE MAP Performance for BOBL
- Today in the EURO-BOBL futures market, traders had a wonderful opportunity for some serious profits as the market performed to our expectations. In a NEUTRAL DIGESTION market state with an MC Value of -2, the market has produced a slight negative bias in an otherwise neutral market. However, the analyst has put the R Level (Sentiment Bias) at the DP telling the trader that any reaction down to this level, should be bought as the analyst expects the Critical Range to hold structure, and the price to reverse course, and rally from the R Level. Our market commentary warns of a "sloppy" trading environment, and advises that traders get confirmation before executing a BUY DP FADE strategy. The market churned around the DIR during the early session, eventually sold off to the DP, and respected this level perfectly. The market bounced off this level and made another attempt at the DP at 4:00 A.M. This attempt failed to break below 126.80, making a HIGHER LOW and giving us confirmation for our BUY DP FADE trade. The market immediately rallied up to the DIR, digested for a bit, and then continued higher. Around 7:45 A.M., the market spiked and took prices all the way through the UP and eventually made it up to the UT1, where profits should have been realized, if they hadn't been earlier. Today's performance in the EURO-BOBL serves as another illustration of the trading power of JS Services Price Map.
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