- The MKT is pressing the extreme but remains in a firm posture. On the SELL side REVERSAL strategies off the UP and UT1 will work best. If the integrity of the previous session low remains intact, avoid FADE strategies as expectation is for a higher trade. BREAKOUT strategies are a lower probability and should just "go". Risk little and have a resting defined target.
- On the BUY side FADE and REVERSAL strategies are recommended off the DP and DT1. As long as the MKT continues to hold positive structure, these strategies should be aggressively taken. BREAKOUT strategies should only have 1 pullback after a resistance breach, bottoming out above the DIR if they are going to follow through in the session. Any more and the market will be vulnerable to a neutral shift.
- On the BUY side FADE and REVERSAL strategies are recommended off the DP and DT1. As long as the MKT continues to hold positive structure, these strategies should be aggressively taken. BREAKOUT strategies should only have 1 pullback after a resistance breach, bottoming out above the DIR if they are going to follow through in the session. Any more and the market will be vulnerable to a neutral shift.
Today's PRICE MAP Performance for DA
Today in the AUSTRALIAN DOLLAR market, we had an MC shift of 3 which gave us an MC Value of +3 today. This drastic move resulted in a NEUTRAL POSITIVE EXTREME Market State. With the R Level below the DP, our expectation is for a continuation of the positive momentum, and we want to accept BUY signals above the R. Our market commentary tells us that BUY DP FADE strategies are recommended. Just after 10 A.M. price action touches the DP giving traders an opportunity to execute the BUY DP FADE strategy. Since we are in a NEUTRAL market state, we should use tighter position management, and profits should be taken at the DIR just after 1 P.M.
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