- Technically the MKT is vulnerable to the offer. On the SELL side accept all BREAKOUT, FADE and REVERSAL signals. The MKT is on edge and any negative signal, especially below the previous session high, is an opportunity. Anticipate a price "zone" around a major resistance point to FADE. Have a plan and be ready. If your stop gets hit and the MKT does not immediately follow through, consider re-entering, even doubling up if there is structure to define low risk.
- On the BUY side REVERSAL strategies can be executed off of major support levels but preferably after an emotional sell off. This is an aggressive strategy and any profits should be realized at the previous support failure points. Avoid DP FADE BUYS even with confirmation, as this is more likely a plateau for a BREAKOUT SELL strategy. UP BREAKOUT strategies are not recommended but do have a better chance of succeeding than a DP FADE.
Today's PRICE MAP Performance for BOBL
- Today was a unique day in the EURO-BOBL Futures market. With an MC Value of -5, JS Services proprietary technical indicator is indicating that the market is in a BEAR TREND. However, there was evidence in the RSI that made a case for a corrective rally so by placing the R Level at the DIR, the analyst is saying if the BEAR TREND is going to continue, it should just go. Just after midnight the market advanced above the minor level at 124.80. It then sold off sharply, only to encounter SUPPORT at the R Level. This successful test of the R Level should have signaled traders to get long the market from the R Level with tight position management, as the underlying BEAR TREND must be respected. As it played out, the market rallied throughout the day, had a brief pullback which found support at the UP around 4:30 A.M. and then continues up to the UT1, where profits should have been realized. Today served as another example of the importance of the R Level when trading with JS Services Strategy Based Trading Approach.
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