- 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 BP
- For the second day in a row, we have a BULL TREND Market State performing EXACTLY to expectations. Today in the BRITISH POUND currency, we had a MC Value of +5 and a BULL TREND Market State. Our stategy in todays trading environment is to accept all BUY signals off major inflection points, with the best risk-reward trade being a BUY R FADE strategy. The R Level is placed by an analyst and represents the level above which traders should BUY the market, and below which traders should look to SELL the market. Around 3:00 A.M. the market sold off dramatically, stabalized just above the R around 1.5823 and then rallied violently. Using the JS Price Map, a trader would have executed a BUY R FADE strategy just after 3 A.M. The market performed to our expectations, respected the R Level, and rallied for the next 4 hours. Price blew through the DIR, surpassed the UP (our target), and eventually made it all the way up to the UT1. Profits could have been realized at our profit target at the UP; however, had a trader stayed in the position after the UP was achieved, he or she would have been rewarded hansomely as the market traded up to the UT1 just after 7 A.M.
