-Technically the MKT is vulnerable to the offer. On the SELL side accept all BREAKOUT, FADE
and REVERSAL signals. The MKT is on the
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
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 W
- Today in the MAR '13 WHEAT contracts, we had an MC Value of -7 producing a BEAR TREND signal. With the R Level at the UP, we are looking to get short this market aggressively at major Price Map levels. The market gave us an opportunity to do this at the DIR around 6 A.M. From here, the market sold off down to the DP, where it had a brief bounce, before continuing lower beyond our minor level at 804.00. Being cognizant of the MKT state and appropriate strategies to implement in that state allowed JS traders to capitalize on this opportunity.
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