- The MKT has produced a positive signal but has yet to
confirm the signal and remains in neutral. On the SELL side REVERSAL strategies
can be executed at the UP or near the previous session high point. Avoid this
strategy on higher levels as any new strength has the potential to be the
beginning of a move. If the integrity of the previous session high remains
intact, UP FADE strategies can be accepted. Use a BREAKOUT strategy as a signal
for a DIR FADE. Only take this trade if the previous session high point remains
intact.
- On the BUY side be more aggressive after the previous
session high has been taken out. UP
BREAKOUT strategies should just "go", so keep risk parameters tight.
FADE into any negative reaction off an unsuccessful upside BREAKOUT against the
DIR. DP FADE strategies are recommended early in the session or near the end.
Today's PRICE MAP Performance for ND
-Today's Market State for the MINI NASDAQ 100 is a very unique one. This Market State is used when the signature state is NEUTRAL; however, there is a higher probability for today to be the beginning of a new move. Since the market had produced a POSITIVE signal, and the R Level at the DIR, the trader should be bullish as long as the R Level holds support. In the event that the price moves below the R Level, this negates the positive signal, and suggests that the rest of the trading day is going to be sideways. With the R Level still in tact, we were offered our first opportunity to buy the market around 8:30 A.M. with a "Buy UP Breakout" strategy. Our expectation is that once the UP is breached, the market should just "go"...and "go" it did! The market continued to rise steadily, digested at the UT1 from 11:30 - 12, and then continued higher, ultimately achieving the UT2. This level is 2 major Price Map levels away from our entry position at the UP and represents the target at which profits should be realized.
