- The MKT has a firm tone and as long as the integrity of the previous session low remains intact, look for excuses to get long. On the SELL side UP FADE strategies are valid but profit targets and risk management should be tight. REVERSAL strategies should be applied only at the UP and +c after an exhaustive signal. Use DP BREAKOUT strategies as a signal to FADE a positive reaction against the DIR. Only until the MKT breaks the positive structure are sell signals an opportunity.
- On the BUY side BREAKOUT, FADE and REVERSAL are recommended as the MKT is bid and all buy signals are valid opportunity. If stopped out at or near the low tic of a reaction and the MKT is not following through to the downside, look to re-enter using the recent squeeze low as a stop. If the MKT breaks structure, de-leverage and be more selective as the likelihood of a sideways trade is high.
Today's PRICE MAP Performance for FV
- Big day for traders in the 5-YEAR TREASURY NOTES market as our analyst correctly positioned our traders for the day. With an MC Value of +4 and a BULL TREND Market State, our expectation is for a move higher. However, by placing the R Level at the DIR, the analyst is saying "if this market is really in a bull trend, prove it!" The market broke below the DIR in the early morning session, held support at the minor level 124'097 and then rallied back up to the DIR, where it failed twice to surpass this level. This action negated the positive bias, and served as a prime opportunity to execute a SELL DIR BREAKOUT strategy. Our profit target for this trade is the DT1, which was achieved right around 6 A.M. Looking at our market commentary (STRATEGY), we are instructed to use a DP BREAKOUT as a signal to execute a SELL DIR FADE after a corrective rally. Well, we had the DP BREAKOUT just before 5 A.M. and the corrective rally back up to the DIR stalled out around 124'112, giving us a PERFECT opportunity to SELL the DIR FADE after a DP BREAKOUT signal. Wasting no time at all, the market sold off down to our profit target, the UT1, just after 9 A.M. Today proved to be very profitable day for those trading with JS Services!
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