- 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 YM
- In a relatively calm day for the markets today, the DJI FUTURES INDEX respected the analyst placement of the R Level which could have translated to profits for you, as a trader. The R Level is the "Breaking Point" for the positive sentiment. After respecting the R around 3:30 the market makes another attempt to breakdown from this level around 5 A.M. The market digests around this level, and then resumes the underlying positive trend. This overnight pullback position us as traders to benefit and execute a BUY DP FADE around 5:30 A.M. The market maintained positive structure throughout the day, making higher highs and higher lows. The market broke through the DIR and eventually made it past our minor level at 13502 before running out of steam. A good strategy would have been to place a stop at 13502 after this level had been penetrated, which would have minimized your profit giveback on the trade.
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