-The MKT is in a sideways digestive position with a slight
positive bias.
-On the SELL side avoid DP BREAKOUT strategies but rather
FADE a positive reaction against the DIR after a negative breakdown
signal. UP and UT1 REVERSAL strategies
are recommended over FADE strategies as “sloppy” trading conditions are
expected. Any UP FADE trades should get
confirmation.
-On the BUY side UP BREAKOUT strategies are
valid but should expect a laborious trade.
Work any position, selling into emotional surges and re-entering on any
sharp pullbacks. Expect a choppy trade
and be aggressive on minimizing profit give-back. DP and DT1 FADE and REVERSAL strategies are
recommended.
Today's PRICE MAP Performance for W
- Today in the WHEAT market, we had a NEUTRAL DIGESTION market state with a slight positive tone. Since the analyst placed the R Level at the DIR, we know that today we are in a dynmaic market state and opportunity exists on both sides of the market. In a NEU market state, our expectation is that trading should stay within the Critical Range so when we saw the breakdown from the DP around 8:00 AM below the R Level, we knew that this was an opportunity to execute a SELL DP BREAKOUT strategy that was in line with our sentiment bias. In a neutral environment, position management should be tight as a choppy trading environment is expected. Profits should have been realized at the DT1 around 10:30 AM.
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