- Technically the MKT is in a positive posture and as long as it continues to hold structure, further gains should be expected. If 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 EURUSD
Today in the EURUSD FOREX market we had a MC Value of +4 and a BULL TREND market state. The analyst has placed the R Level at the UP which, in essence, is telling the market, "If today is going to be a bull trend market, prove it!" The market traded up to the R Level at 6 A.M. giving traders a chance to execute a SELL R FADE strategy. The underlying bull trend of the market must be respected, and traders should have used tight position management. Taking profits just after 8 A.M., we had another go at the UP around 9:30. The R Level again proved to be a valid level of resistance, and allowed traders to get short from the R for a second time, realizing profits at the DIR just before 1 P.M.
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